German GDP saw 8.2percent bounce-back in next quarter

BERLIN – The German economy bounced back in the next quarter when compared with the previous 3 months, once the nation was struck by the initial wave of this coronavirus pandemic, based on official statistics published Friday.

Germany’s Federal Statistical Office reported the nation’s gross domestic product rose by 8.2percent from July to September in comparison to the next quarter.

Economy Minister Peter Altmaier said the information was better than forecast and the government expects a full-year decrease in GDP of 5.5 percent, greater than the administration’s prediction in September of a 5.8percent drop.

German GDP is predicted to increase 0.4percent in the fourth quarter, less than previously anticipated as a result of current upsurge in fresh COVID cases.

Altmaier said officials expect the market to get recovered from the effect of the pandemic by 2022.

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