Germany’s Economy Ministry said the country is “back on the road to recovery” since tough shutdown was eased since May. Industry’s “rapid catching-up” is continuing, largely driven by automotive sector. But it’s expected to lose momentum due to “weak foreign demand”.
Also, with “somewhat more favorable starting position”, there will be a “strong increase in gross domestic product in the third quarter.” But the course will depends on the pandemic at home and abroad. Some of Germany’s trading partners are “still heavily impacted by the pandemic”.
“For this reason alone, after the first stronger recovery in May and June, the further recovery process of the German economy will only progress slowly and take a long time to complete.”