BDI has moderated its forecast for this year’s German GDP decline

By: Trademagazin editor Date: 2020. 09. 18. 11:05

The German economy has reached the bottom of the crisis in the second quarter, the correction has already started in the third quarter.

This year’s decline in gross domestic product (GDP) will be smaller than previously indicated, but the German Confederation of Industry sees opportunity, in BDI’s latest quarterly report.

The BDI (Bundesverband der Deutschen Industrie e.V.) in its third-quarter report, published on its website on Friday, cut its forecast for this year’s GDP decline to 5.4 percent from the 6.5 percent in August. (MTI)