Germany: Economy Will Grow Strongly in Q3

The Economy Ministry said that Germany’s economy, which has been hit hard by the Coronavirus pandemic, will grow strongly in Q3 but that a full recovery will take a long time.

The ministry added in its monthly report that Europe’s largest economy has been recovering since May thanks to easing restrictions imposed to slow the spread of the Coronavirus.

The ministry stated that while a rapid improvement in Germany’s strong industrial sector continues, this recovery will lose momentum due to weak demand from the rest of the countries still suffering from the pandemic.

The ministry said another economic recovery will largely depend on how the pandemic develops in Germany and beyond.