Germany is heading for a domestic demand-led recovery, the International Monetary Fund said yesterday, as the country reported a stronger than expected rebound in industrial production.
Industrial production rose by 2.8 per cent in March compared with February, after a 0.3 per cent fall in the previous month, according to official data released yesterday. The increase took output to levels last seen in mid-2011, before the eurozone crisis led to sharp falls in business and consumer confidence.
Separately, the IMF said Germany was on the verge of a “domestic demand-led recovery following the downturn end-2011”.
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