BERLIN, Aug. 17 -- The German economy was currently on a "recovery path" after a slump caused by the COVID-19 crisis and is expected to "grow steeply" in the third quarter of the year, Germany's central bank Deutsche Bundesbank said on Monday.
"Current indicators suggest that this upward movement is continuing during the summer months" in Germany, according to the bank's monthly report.
In the second quarter (Q2), German gross domestic product (GDP) plummeted by 10.1 percent compared to the previous quarter, the German Federal Statistical Office (Destatis) recently said. It was the "largest decline since the beginning of quarterly GDP calculations for Germany in 1970."
In March and April, parts of the German economy had come to a stand-still as rising COVID-19 infections led to a partial lockdown and the closures of shops and factories in the country. The economic recovery began in May after the first restrictions were eased.
Germany's expansive monetary and financial policy measures and the economic stimulus package worth 130 billion euros (154 billion U.S. dollars), recently adopted by the German government, would "provide additional support to the economy," according to the Deutsche Bundesbank.
However, the bank's economists noted that the German economy would "still fall considerably short of its pre-crisis level for some time to come."
Forecasts for German GDP for the full year 2020 range between minus 6.3 percent, the official government forecast from April, and minus 9.4 percent which the German Institute for Economic Research (DIW) projected in late June.
国际英语资讯:Death toll of Egyptian pilgrims to Mecca rises to 70
体坛英语资讯:AEK Athens roar into UEFA Champions League group stage
国际英语资讯:Chiles govt to oversee air-quality in wake of toxic cloud
新房这样装修会让你更健康
体坛英语资讯:Chinas twin sisters Jiang top duet technical routine at artistic swimming in Asiad
人民币不是打贸易战的武器
The Person I like Most 我最喜欢的一个人
体坛英语资讯:Zhang Jiaqi/Zhang Minjie snatch womens 10m synchro platform title
国内英语资讯:Vice premier pledges to improve rural education
阿迪达斯推出“纯素皮革”的运动鞋!怎么情况?
外媒:马云即将退休,投身教育慈善事业!
国内英语资讯:China moves to overhaul ride-hailing services over safety concerns
About Time 关于时间
国内英语资讯:China supports DPRK, U.S. dialogue: FM spokesperson
国内英语资讯:Chinas top legislator visits DPRK, attends Foundation Day celebrations
体坛英语资讯:Wang scores lone goal to pace China into final of Asiad womens soccer
国内英语资讯:Leading Chinese think tank releases report on China-Africa cooperation
我国研发出可溶于海水的塑料
体坛英语资讯:Romania to host Winter Triathlon European Championships
国际英语资讯:UN chief calls for prevention of full-scale attack on Syrias Idlib
闺蜜讨厌我的男朋友,我该怎么办?
国内英语资讯:China, Russia agree to advance sub-national cooperation
国际英语资讯:Remains of late UN chief Kofi Annan arrive in Ghana
国内英语资讯:China, Vietnam vow to enhance cooperation, deepen partnership
成功的CEO早上是怎么过的?果然习惯决定命运
体坛英语资讯:Chinese shuttlers fail to make into Asiad mens doubles final
体坛英语资讯:Algerias ES Setif secure berth in African CL quarterfinals
年轻人也可能患有这些老年健康问题
国内英语资讯:Xi, Putin vow to promote ties regardless of global changes
星巴克专为老人开设门店!太贴心了...