Bundesbank remarks in its latest monthly report
- Growth could undershoot projections this year
- Early weeks of the rebound were more timid than projected
- That will likely weigh on full-year figure growth as well
- Some restrictions could be introduced in autumn if infections continue to rise
- But unlikely to be as strict as in the past given vaccine progress
That pretty much sums up the view on the German and European economy at the moment, as overall growth momentum also looks to have peaked in early summer. The good news is that vaccinations have progressed well and that should keep some of the momentum flowing into Q4, though delta variant risks are something to keep an eye out for.
