BERLIN (Reuters) – German government expects Europe’s largest economy to grow 3% this year, a government official told Reuters, a sharp downward revision from last autumn’s estimate of 4.4% caused by putting the second November on coronavirus lock.
German Economy Minister Peter Altmaier is expected to unveil the government’s official forecast next week. The new issue was first reported by Der Spiegel magazine earlier Friday.
While a series of recent indicators have shown that Europe’s largest economy is experiencing a better-than-expected global pandemic, the advent of the second wave of the virus in the fourth quarter has met expectations. got over it quickly.
The government introduced closures in November, and tightened measures in December and January, affecting the retail, hospitality and tourism industries that were already under pressure.
Reporting by Holger Hansen, Thomas Seythal and Christian Kraemer, written by Thomas Escritt; Edited by Maria Sheahan and Caroline Copley