Germany’s Economy Takes a Hit From Lockdown Measures in November

The German economy ministry said on Friday that the country’s economic recovery has continued until October but has slowed since August, adding that lockdown measures put in place to slow the spread of the Coronavirus hurt the economy in November.

But the ministry said it did not look like the recovery would end in the fourth quarter, as long as restrictions remained limited.

The German government’s Council of Economic Advisers said on Wednesday that it expects Europe’s largest economy to shrink less than it initially feared this year thanks to a strong performance in the summer, but a second wave of the Covid-19 pandemic is blurring growth prospects for 2021.

The Federal Statistical Office said on Friday that bankruptcy claims from companies in Germany fell 35.4% in August year-on-year, adding that the drop was mainly due to a temporary suspension of mandatory bankruptcy filing since March, which did not reflect the difficulties many companies face during the pandemic.