German GDP saw 8.2% bounce-back in third quarter

BERLIN – The German economy bounced back strongly in the third quarter compared to the previous three months, when the country was hit by the first wave of the coronavirus pandemic, according to official figures released Friday.

Germany’s Federal Statistical Office said the country’s gross domestic product grew by 8.2% from July to September compared to the second quarter.

Economy Minister Peter Altmaier said the data was better than predicted and the government now expects a full-year decline in GDP of 5.5%, better than the government’s forecast in September of a 5.8% drop.

German GDP is expected to grow 0.4% in the fourth quarter, less than previously expected due to the recent upsurge in new COVID cases.

Altmaier said officials expect the economy to have recovered from the impact of the pandemic by 2022.