It’s All Uphill From Here On, For the German Economy Ministry
German GDP is expected to increase in Q3, as the country reopens
Skerdian Meta•Monday, July 13, 2020•1 min read
The German economy was already in trouble last year, with manufacturing and industrial production being very volatile. But, the situation got much worse during the lock-down months. Although, we are seeing some positive numbers recently which show some optimism after the house arrest. Now the Ministry of Economy is also feeling confident that the worst is behind us and from here on there will be only economic expansion, expecting a decent rebound in the GDP during Q3.
German Economy Ministry Comments
- Economic low point has passed
- Industrial production has passed its lowest point
- Increase in received orders indicates output will pick up in the coming months
- But risks exist particularly in very slack demand from outside the euro area
- There will be GDP growth from Q3 onward
A positive takeaway from the comments here is that underlying demand within the region is picking up. However, with global trade still largely subdued and that will be a particular concern in terms of aiding the speed of the economic recovery. Perhaps the end of Q3 and/or Q4 will be more telling in terms of whether or not the world has moved on from the virus crisis in a more meaningful way.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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