German GDP soared in the third quarter

By: Trademagazin editor Date: 2020. 10. 30. 11:09

Germany’s gross domestic product (GDP) grew at an all-time high of 8.2 percent in the third quarter of this year from the previous three months – the Federal Statistics Office (Destatis) said on Friday. Also on Friday, the federal government again improved its forecast for GDP this year.

The performance of the European Union’s largest economy improved in July-September through rising consumer spending, a pick-up in investment and rising exports.

The German economy has begun to recover from the crisis caused by the coronavirus pandemic, but GDP has still fallen 4.2 percent from a year before in the third quarter of 2019 – Destatis estimates in its flash report. (MTI)