German Economy Minister Peter Altmaier was optimistic on Friday after figures showed the German economy bounced back strongly in the third quarter compared to the previous three months, when the country was hit by the first wave of the coronavirus pandemic.
Germany’s Federal Statistical Office said the country’s gross domestic product grew by 8.2% from July to September compared to the second quarter.
Altmaier said the data was better than predicted and the government now expects a full-year decline in GDP of 5.5%, down from forecast in September of a 5.8% drop.
German GDP is expected to grow 0.4% in the fourth quarter, less than previously expected due to recent upsurge in new COVID cases. Altmaier added that officials expected the economy to have a full recovery from the pandemic by 2022.
Lillian Jijingi