The Germany economy is likely stagnating or contracting in the fourth quarter of the year due to the coronavirus-related restriction measures, the Bundesbank said in its monthly report on Monday, per Reuters.
“Overall economic performance could stagnate or even decline after very vigorous growth in the summer,” the Bundesbank noted.
Market reaction
This headline doesn’t seem to be having a significant impact on market sentiment. As of writing, Germany’s DAX 30 Index was up 0.55% on a daily basis at 13,146. Meanwhile, the EUR/USD pair clings to small daily gains near 1.1840.
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