German GDP To Log Less Severe Contraction In 2020: Bundesbank

The German economy is set to log a less severe contraction this year as the easing of Covid-19 containment measures boosted the third quarter growth, Bundesbank said in its semi-annual report released Friday. The economy is projected to shrink 5.5 percent this year instead of -7.1 percent projected in June. The economic recovery is forecast to be interrupted in the final quarter of 2020 and in the first quarter of 2021 with the resurgence of the pandemic.