German economy ministry says GDP growth to pick up significantly in Q3

Remarks by the German economy ministry

  • Q3 GDP growth to pick up significantly after 1.6% q/q growth in Q2
  • GDP growth likely to normalise in Q4
Peak conditions in the early stages of the summer sets up a good look for Q3 performance but the latter stages are pointing to moderation in overall conditions, even more so in the outlook as optimism fades and pent-up demand abates.
While a return to renewed virus restrictions may not be on the cards, there are still worries on the spread of the delta variant which is keeping a cloud over the outlook in Q4.
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