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Strong recovery momentum, Germany’s third quarter GDP rose by 8.5% month-on-month record-breaking

Merkel admits that the pandemic response to the "report card" has regressed.

German Chancellor Merkel (Source: Reuters)

The recovery was strong in the second quarter after a record 9.8% month-on-month decline due to the epidemic.

According to the final data released by the German Federal Statistical Office on the 24th local time, Germany’s GDP increased by 8.5% month-on-month in the third quarter of this year

△Trend chart of German GDP change (Source: German Federal Statistical Office)

the highest increase in history and exceeded the previous expectation of 8.2%, after price, seasonal and working day adjustments. Affected by private consumption, business investment and exports.

The increase of However, compared with the level in the fourth quarter of 2019 before the outbreak, it is still down 4%.

At the same time, due to Germany’s implementation of a new round of blockade measures from November 2 and the temporary decision to extend it to December 20, many people in the economy believe that the recovery rate of the German economy will slow down in the fourth quarter, and the gross national product may stagnate.

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