13 Sept 2021
Ministry of Economy in Germany says that their Economy will boost in Q3
The Index Today
On Monday, the Ministry of Economy in Germany said that the German economy will pick up steam in the third quarter but business activity will cool again in the final three months of the year.
According to recent data, the Europe's largest economy grew by 1.6% on the quarter from April to June, a weaker rebound than in many other European countries, as supply shortages for semiconductors and other intermediate goods held back the recovery from the pandemic.
The economy ministry said in its monthly report that, "Overall, there will likely be a noticeable increase in economic output in the current third quarter." They also said that there were signs of a normalization of growth in the fourth quarter.
It added that right now, the spread of new coronavirus mutations and their influence on the infection dynamics could blur the economic outlook.