Germany’s Bundesbank said economy recovery is “likely to b e interrupted for the time being as the coronavirus pandemic “flared up again in autumn”. Though, a “similarly severe impairment” as in Spring is “not to be expected.
It projects GDP to dropped -5.5% this year. For 2021 and 2022, strong economic growth of 3% and 4.5% is expected, then slow down to 1.8% in 2023. “GDP will already reach its pre-crisis level again in early 2022”.
“Due to the economic upturn in key partner countries, German exports should be a solid pillar of the economic recovery,” Bundesbank added.
