Germany’s economic freefall has come to an end. According to the latest industry and export data, exports rose 0.7 % in March, representing the first month-to-month increase since September 2008, even though economists had expected a further decline. However, economists expect first-quarter German gross domestic product figures, due out next week, to show a quarter-to-quarter contraction of as much as 3.5 %, the Financial Times reports.

While the economic decline hit Germany harder than other industrial countries due to its strong dependence on exports, forward-looking indicators suggest that the pace of decline will have moderated sharply by the middle of this year, even raising the possibility of GDP growth later in the year. Evidence is even building that German companies may need to start restocking, which could boost production in coming months.