Status: 10/30/2020 10:07 am

Following the recession due to the Crown crisis in the spring, the German economy recovered markedly and grew at record speed in the summer quarter. Gross domestic product increased between July and September by 8.2 percent compared to the previous quarter, as announced by the Federal Statistical Office.

In the second quarter, due to containment measures in the virus pandemic, the economy collapsed by 9.8 percent and was therefore stronger than ever. However, the partial lockdown announced for November due to the growing number of new corona infections is likely to slow the economic recovery again in the current quarter. Therefore, some experts even fear that the economy will contract again at the end of 2020.

At the moment, the Federal Minister of Economy, Peter Altmaier, presents the autumn forecast.

More information coming soon.


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