Quarterly Report Germany III/2020

Economic low in second quarter has bottomed out. Return to pre-crisis levels only expected in 2022

The German economy registered the strongest slump in the second quarter of 2020 since the beginning of quarterly accounts in 1970. Gross domestic product dropped by 9.7 percent compared to the previous quarter following price, calendar and seasonal adjustment. Industrial production even up 19.2 percent. It will take until 2022 to return to pre-crisis levels.