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The German economy is likely to recover from this spring after an estimated contraction in the first quarter of 2021, Bundesbank said in its monthly report released Monday.

The bank noted that the second wave of Covid-19 pandemic thwarted Germany’s economic recovery at end of 2020. Economic activity was still almost 4 percent down on the pre-crisis level of the fourth quarter of 2019.

Further, the bank said consumer prices surged in January due to the extensive adjustments to the expenditure weights underlying the harmonized index of consumer prices.


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