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- Bundesbank's monthly report: Sharp rise in virus infections, coupled with containment measures, to hit services industry
Bundesbank's monthly report: Sharp rise in virus infections, coupled with containment measures, to hit services industry
- Expects German economic recovery to continue in Q4
- But at a "considerably slower" pace
- Hospitality in particular to get hit badly
- Recent, strong increase in infection numbers and the associated containment measures taken in some regions may hurt mostly the service sectors and the hotel and catering industries
- German economy has clawed back a little more than half of the output lost during the slump seen in H1 2020
- But output is still probably some 5% below the level recorded in Q4 last year
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