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Germany's Economy Likely To Lose Momentum: Bundesbank

Germany's economy is likely to lose momentum in the second quarter, according to the monthly report, published by Bundesbank on Monday.

Gross domestic product expanded 0.4 percent in the first quarter after staying flat in the fourth quarter. Bundesbank said the first quarter growth was largely driven by one-off factors.

The central bank observed that the economic outlook will hardly exceed the levels of winter in the second quarter, which was favored by special effects. The special effects will expire or even reverse, the bank cautioned.

Bundesbank said the downturn in industry will continue and they may even intensify.

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