In the monthly report, Bundesbank said Germany economic output decreased in Q1. Stricter and longer-lasting restrictions increased the losses in many service sectors.
Industrial production fell in February as “supply bottlenecks for preliminary products must have played an important role in the decline.” Automotive industry was “particularly hard hit”. However, there was no renewed demand problem, as incoming orders “rose significantly again” in February, and have now “recovered considerably from the slump in the previous year”.
