German economy minister Peter Altmaier believes Germany is in an ‘unexpectedly fast’ V-shaped recovery. Despite Coronavirus fears global markets have soared to record highs and economies are showing some life as PMI shows. The German government revised it’ 2020 GDP forecast to -5.8% from -6.3% previously.
German government revises 2020-21 GDP forecasts
- 2020 GDP forecast revised to -5.8%; previously -6.3%
- 2021 GDP forecast revised to +4.4%; previously +5.2%
Altmaier also says that Germany has managed to preserve the essence of the economy and does not expect another lockdown similar to that seen in March and April this year. He sees a return to pre-virus levels at the beginning of 2022.
From The TradersCommunity Research Desk