German recovery will pick up speed in the third quarter – Ministry of Economic Affairs | The mighty 790 KFGO
BERLIN (Reuters) – The German economy will pick up speed in the third quarter, but business activity will cool down again in the last three months of the year, the economy ministry said on Monday.
Europe’s largest economy grew 1.6% quarter-on-quarter from April to June, a weaker recovery than many other European countries as supply bottlenecks in semiconductors and other intermediate goods slowed recovery from the pandemic.
“Overall, economic output is expected to increase noticeably in the current third quarter,” says its monthly report from the Ministry of Economic Affairs. In the fourth quarter there were signs of a normalization of growth.
The spread of new coronavirus mutations and their impact on infection dynamics could cloud the economic outlook.
(Reporting by Michael Nienaber, editing by Joseph Nasr)