German economy will grow strongly in third-quarter
Saturday, 08 15 2020, Category: Economy, Country: Germany
Germany’s economy, which has been hit hard by the coronavirus pandemic, will expand strongly in the third quarter but a full recovery will take a long time, the Economy Ministry said on Friday.
Europe’s largest economy has been recovering since May thanks to the easing of restrictions imposed to slow the spread of coronavirus, the ministry said in its monthly report.
While a rapid improvement in Germany’s mighty industrial sector is continuing, this will lose steam due to weak demand from other countries that are still being battered by the pandemic, the ministry said.
The ministry said a further economic upturn would depend to a large extent on how the pandemic develops in Germany and abroad.