German economy taking hit from lockdown measures in November: ministry By Reuters


© Reuters. The skyline with its banking district is photographed in Frankfurt

BERLIN (Reuters) – Germany’s economic recovery continued until October but has slowed since August, the Economy Ministry said on Friday, adding that lockdown measures implemented to slow the spread of the coronavirus hit the economy in November.

The ministry said it did not look like the recovery would end in the fourth quarter though, as long as restrictions remain limited.

The German government’s council of economic advisers on Wednesday said it expected Europe’s largest economy to shrink less than initially feared this year thanks to a strong summer, but a second wave of the COVID-19 pandemic was clouding the growth outlook for 2021.

Insolvency applications from companies in Germany dropped by 35.4% in August year-on-year, the Federal Statistics Office said on Friday, adding that the drop was mainly due to a temporary suspension of obligations to file for insolvency from March, not reflecting the hardship many companies are facing due to the pandemic.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here