Bundesbank: the German economy avoided a recession in 2018

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Germany faced low growth at the end of 2018, but the country managed to avoid a recession, the Central Bank of Germany reports. The European Central Bank chose a tight monetary policy path, so the slowdown in the growth rates of leading EU countries caused concern in Frankfurt. In 2018, the growth rate of Germany’s GDP reached its lowest level since 2013. Last year, the economy grew by only 1.3%, while in 2017 the country's GDP increased by 2.2%. Weak economic growth in 2018 is associated with a downturn in the manufacturing sector. The automotive industry developed slowly last summer, and only began to gain pace by the end of the year. The heads of the Central Bank of Germany are pinning their hopes on the growth of employment and wages. The upturn in this sector is expected to support the economy.

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