World News

Ifo expects German economy to expand by 0.2% in first-quarter

BERLIN (Reuters) – The German economy will likely grow by 0.2% in the January to March period after probably expanding by 0.1% in the fourth quarter as the industrial sector slowly emerges from a crisis, an economist at the Ifo institute said on Monday.

Klaus Wohlrabe said demand in the industrial sector had increased, giving grounds for cautious optimism. His comments came after Ifo’s monthly survey showed sentiment among firms deteriorating in January.

He said the coronavirus outbreak that began in the central Chinese city of Wuhan had not yet had any impact on the German economy.

(Reporting by Rene Wagner; Writing by Michelle Martin; Editing by Joseph Nasr)