Germany Q3 GDP Increases by 8.5%

[Asia Economy Reporter Moon Jiwon] The German Federal Statistical Office announced on the 24th that Germany's third-quarter Gross Domestic Product (GDP) increased by 8.5% on a seasonally adjusted basis.

This is a slight upward revision from the previously announced preliminary figure of 8.2%.

Germany's second-quarter GDP had decreased by 9.8% due to control measures amid the spread of the novel coronavirus disease (COVID-19), but rebounded in the third quarter.

Since last month, there are forecasts that the rapid resurgence of COVID-19 may temporarily stall or reverse the economic recovery.

Germany has been implementing a partial lockdown since the 2nd. The food service industry is limited to takeout and delivery only, and public and cultural facilities have been closed.

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