Germany’s Economy Ministry: Base growth dynamic of economy has markedly weakened recently

"The underlying economic momentum has recently weakened noticeably," Germany’s Economy Ministry said in its monthly report published on Monday.

Additional takeaways

“Mood indicators point to economic recovery in the further course of the year.”

“Economy was noticeably dampened towards the end of winter half year 2022/23.”

Market reaction

At the time of writing, EUR/USD is trading at 1.0875, adding 0.26% on a daily basis.