German GDP saw 8.2% bounce-back in third quarter

By: |
October 30, 2020 3:33 PM

The German economy bounced back strongly in the third quarter compared to the previous three months, when the country was hit by the first wave of the coronavirus pandemic, according to official figures released on Friday.

India economic growth, India GDP, GDP may be slow in entire year CY 2020, what experts says on GDP data, economic outlook of India, COVID-19 Treatment, monetary policy, rate cut, more stimulus package, infrastructure investmentAltmaier said officials expect the economy to have recovered from the impact of the pandemic by 2022.

The German economy bounced back strongly in the third quarter compared to the previous three months, when the country was hit by the first wave of the coronavirus pandemic, according to official figures released on Friday. Germany’s Federal Statistical Office said the country’s gross domestic product grew by 8.2% from July to September compared to the second quarter.

Economy Minister Peter Altmaier said the data was better than predicted and the government now expects a full-year decline in GDP of 5.5%, better than the government’s forecast in September of a 5.8% drop.

German GDP is expected to grow 0.4% in the fourth quarter, less than previously expected due to the recent upsurge in new COVID cases. Altmaier said officials expect the economy to have recovered from the impact of the pandemic by 2022.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Fiscal deficit: Government spending picks up in October
2Back on track? At minus 7.5%, economy looks better than expected
3States to get loan from agriculture infrastructure fund for Kusum scheme