Home Germany’s DIW: Economy likely to grow 3% QoQ in Q3
FXStreet News

Germany’s DIW: Economy likely to grow 3% QoQ in Q3

According to the latest report published by Germany’s economic institute DIW on Wednesday, Europe’s economic powerhouse is seen expanding 3% in the current quarter (Q3), as it recovers gradually from the coronavirus pandemic-induced previous slump.

Key quotes

“The signs are clearly pointing to a recovery.”

“Despite the strong growth, it will probably take two years before the historic slump in spring is made up for.”

This comes ahead of the German Preliminary Gross Domestic Product (GDP) report for the second quarter due on Thursday at 0800 GMT. The economy is seen contracting 9% QoQ in Q2 vs. -2.2% booked in Q1.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.