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“We are doing much better this year than we had expected to in spring,” Germany’s Finance Minister Olaf Scholz said following the release of the third-quarter GDP report and the Ministry’s growth and inflation forecasts.

He added: “We’ll do everything we can to break infection dynamic, to protect our lives and our economy.”

Additional takeaways

“German govt sees 2021 GDP growth of 4.4% vs. the previous 4.4%.”

“Govt sees 2022 GDP growth of 2.5%.”

“Govt sees CPI at 0.5% in 2020, +1.3 in 2021 and +1.4% in 2022.”