GERMANY - Bundesbank: German economy to grow strongly in summer quarter

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The German economy is expected to recover from the new coronavirus pandemic crisis and grow strongly over the summer, the country's central bank, the Bundesbank, predicted today.

"After a sharp decline in the first half of the year, the German economy could grow very strongly in the summer quarter," the banking institution said in its monthly report for the July-September quarter.

"The visible and broad-based recovery, which began immediately after the lows in April, will continue," the Bundesbank added.

However, the bank warned that levels of pre-crisis economic activity could not be reached either in the third quarter or in the near future because the pandemic has not yet been curbed in many countries.

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