The German economy grew by 0.3% in the first quarter compared to the previous quarter.

Preliminary data released by the Federal Statistical Office of Germany on April 30th shows that after adjusting for price, season, and working days, Germany's GDP increased by 0.3% in the first quarter of this year. In the fourth quarter of last year, the German economy grew by 0.2% quarter-on-quarter. The Federal Statistical Office of Germany stated in the announcement that private and government consumption expenditures were the main drivers of economic growth in the first quarter of this year. In addition, exports also increased. The Kiel Institute for the World Economy in Germany released a statement on the same day, saying that the sharp rise in energy and raw material prices due to the Middle East conflict has begun to put pressure on the economy. If the conflict continues, it will not only continue to weaken the confidence of businesses and consumers, but also disrupt international supply chains, potentially leading to a decline in economic output in the second quarter.