COVID, bottlenecks hold back German economy in Q4 – ministry

FILE PHOTO: A commuter train passes the skyline in a slow shutter speed photograph as the spread of the coronavirus disease (COVID-19) continues and the country faces new restrictions to control the pandemic in Frankfurt, Germany, December 2, 2021. REUTERS/Kai Pfaffenbach/File Photo

BERLIN (Reuters) – The German government expects to see weak economic output in the final quarter of the year as rules aimed at stemming the coronavirus and supply bottlenecks hold back recovery, the economy ministry said on Tuesday.

Less than a fifth of businesses said that they believe the current situation will improve by Feb. 2022, said the economy ministry in its monthly report.

Despite the bottlenecks, the ministry had a positive outlook for German exports in view of the high order backlog.

Source: Read Full Article