German Economy Ministry: Economy has been recovering since May

In its latest statement released on Friday, Germany’s Economy Ministry sounded upbeat on the economic recovery.

Key headlines

"There will be strong GDP growth in Q3."

"The economy has been recovering since May."

"But the recovery process will take a long time."

"Further economic upswing depends largely on how the pandemic develops."

"Industrial sector is seeing its rapid recovery continuing."

"But it will lose momentum due to weak foreign demand."