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8/14, 10:14 AM (Source: TeleTrader)
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German Economic Ministry says GDP will rise in Q3

German Federal Ministry for Economic Affairs and Energy said on Friday that any other further economic upswing depends to a large extent on how pandemic develops locally but also internationally.

The Ministry added that the economy has been seeing signs of recovery since May. However, it warned that the recovery might need a longer time. Still, it predicts the GDP will strongly rise in the third and fourth quarter.

Also, the Ministry noted that even though the industry is rapidly recovering, momentum could be lost due to weak foreign demand.

Breaking the News / TF