2020.01.2013:06:00UTC+00German Economy Probably Stagnated In Q4 - Bundesbank

Germany's economy likely stagnated in the final three months of 2019, the Bundesbank said in its monthly report released on Monday.

The divergence continued with the domestic economy giving impetus, while the sluggishness in the export industry remained. However, there were increasing signs of a stabilization in the manufacturing sector, the report said.

The strong labor market and income prospects continued to underpin consumer spending as suggested by the exceptionally good retail sales figures at the end of the year. The domestic construction sector also benefited from the positive income prospects and the very favorable financing conditions.