Sees 2020 German GDP at -6.0% vs -9.4% previously in June forecast
- 2021 German GDP forecast of +4.1% vs +3.0% in June
- 2022 German GDP forecast of +3.0%
Essentially, it reads as “the slump in the German economy isn’t as bad as anticipated and that the recovery phase is also gathering modest pace”. But amid fears of a secondary wave of infections in the region and international demand conditions still rather subdued, we’ll see if things will keep with this trajectory towards the latter stages of the year.