German economy minister, Peter Altmaier, says that the economy is in an 'unexpectedly fast' V-shaped recovery
- 2020 GDP forecast revised to -5.8%; previously -6.3%
- 2021 GDP forecast revised to +4.4%; previously +5.2%
This confirms the reports from earlier today but Altmaier is offering relatively upbeat remarks surrounding the economic situation in general.
Alongside the remark on a V-shaped recovery, he also says that Germany has managed to preserve the essence of the economy and does not expect another lockdown similar to that seen in March and April this year.
Adding that he expects a return to pre-virus levels at the beginning of 2022.
