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24th Feb 2023 16:42Eurozone, Weekly Monitor

  • German consumers ran out of steam in Q4, and we think conditions will stay difficult in Q1.
  • Capex in Germany in 2022 was stung by falling construction; an inventory correction looms in 2023.
  • We remain above consensus on German growth, mainly due to our bet on positive growth from Q2.

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Keywords for: 27 Feb 2023 Eurozone Monitor

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