Germany performing below expectation
Germany is one of the countries worst hit by the COVID-19 outbreak. Although it has started to recover after months of lockdown, the performance is less than analysts expected, Bloomberg reports. Output has only risen 7.8% in the automotive industry, less than +11.1% expected. Industrial production also probably fell by more than 16% in Q2 of 2020 which may have directly impacted the GDP negatively. The production is still insufficient to meet the demands and there is a gap and room for growth.
Recovery faster than other European countries
Germany is having a hard time getting back on track but analysts say it may recover faster than most or all other European countries. This is because the lockdown in the country was less severe, compared to countries like Italy that shutdown all aspects of the economy. It is expected that the German economy will hit a growth of 6.1 percent by 2021 and a bounce back is expected in the second half of 2020. Though the performance is not very good so far, the second half is still early and things may improve before the year runs out.
