Sunday, November 29

Germany’s DIW: Economy grew by 6% in Q3 but recovery likely to slow

The economy likely grew by around 6% in the third quarter but the recovery appears faltering, according to the latest report published by Germany’s economic institute DIW on Wednesday.

Key quotes

“Economic output will likely increase slightly towards the end of the year.”

“The recovery from the coronavirus crisis seen over the summer will probably slow as a second COVID-19 outbreak hits Europe’s biggest economy.”

Earlier today, Bild newspaper reported that German Chancellor Angela Merkel is set to agree to close all restaurants and bars from November 4, in a bid to curb coronavirus infections, when she meets the state premiers later on Wednesday.

Credit: FX Street

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