(C) Reuters. FILE PHOTO: Steel rolls are pictured at the plant of German steel company Salzgitter AG in Salzgitter
BERLIN (Reuters) – Germany’s economy, which has been hit hard by the coronavirus pandemic, will expand strongly in the third quarter but a full recovery will take a long time, the Economy Ministry said on Friday.
Europe’s largest economy has been recovering since May thanks to the easing of restrictions imposed to slow the spread of coronavirus, the ministry said in its monthly report.
While a rapid improvement in Germany’s mighty industrial sector is continuing, this will lose steam due to weak demand from other countries that are still being battered by the pandemic, the ministry said.
The ministry said a further economic upturn would depend to a large extent on how the pandemic develops in Germany and abroad.
German economy will grow strongly in third-quarter but full recovery will take time: ministry
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.