German economy grows 8.5% in third quarter
All things considered, Germany's economy staged something of a recovery in the third quarter.
Gross domestic product in Europe's biggest economy grew by a record 8.5%.
The stronger-than expected rebound came off the back of an unprecedented plunge caused by the first wave of the COVID-19 pandemic in spring.
The growth was mainly driven by higher household spending and soaring exports, the statistics office said on Tuesday (Nov 24).
The reading marked an upward revision to an earlier estimate, and followed a 9.8% fall in the second quarter.
The outlook though is clouded by a second wave of coronavirus infections and a partial lockdown.
Restaurants, bars, hotels and entertainment venues have been closed since November 2nd, although shops and schools remain open.
Chancellor Angela Merkel and regional state premiers are thought to be planning to extend the "lockdown-light" on Wednesday until December 20th.
A contraction in the service sector is also expected to weigh heavily on GDP in the fourth quarter.
While lockdown measures in other countries are likely to hit export-oriented manufacturers as well.
