Despite coronavirus pandemic, German GDP saw 8.2 pct bounce-back in third quarter

German Chancellor Angela Merkel arrives for the weekly cabinet meeting of the government at the chancellery in Berlin, Germany. (Reuters)

The German economy bounced back strongly in the third quarter compared to the previous three months, when the country was hit by the first wave of the coronavirus pandemic, according to official figures released on Friday.

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Germany’s Federal Statistical Office said the country’s gross domestic product grew by 8.2 percent from July to September compared to the second quarter.

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Economy Minister Peter Altmaier said the data was better than predicted and the government now expects a full-year decline in GDP of 5.5 percent, better than the government’s forecast in September of a 5.8 percent drop.

German GDP is expected to grow 0.4 percent in the fourth quarter, less than previously expected due to the recent upsurge in new COVID cases.
Altmaier said officials expect the economy to have recovered from the impact of the pandemic by 2022.

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Last Update: Friday, 30 October 2020 KSA 14:53 - GMT 11:53
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