German Central Bank: German Economy on Track For Rapid Growth During Summer

Germany’s central bank said on Monday that the German economy is poised for a rapid and broad recovery after an unprecedented contraction in peacetime in the spring, but a coronavirus vaccine may be necessary before a full recovery is possible, according to Reuters.

“The clear and widespread recovery in macroeconomic performance, which started after the lowest point in April, will continue,” the central bank said in a monthly report.

The bank added that “the German economy should grow very strongly in the summer quarter of 2020.”

Although the bank warned that the epidemic is not contained globally, and that this would affect German exports and industrial production.