July 29, 2020 / 8:34 AM / 5 days ago

German economy growing by 3% quarter-on-quarter after pandemic slump - DIW

FILE PHOTO: A worker wears a protective mask at the Volkswagen assembly line after VW re-starts Europe's largest car factory after coronavirus shutdown in Wolfsburg, Germany, April 27, 2020. Swen Pfoertner/Pool via REUTERS/File Photo

BERLIN (Reuters) - The German economy is likely growing by 3% in the current quarter when compared to the previous one, partly recovering from the slump caused by the coronavirus pandemic, economic institute DIW said on Wednesday.

“The signs are clearly pointing to a recovery, but despite the strong growth, it will probably take two years before the historic slump in spring is made up for,” DIW said in a statement.

Reporting by Thomas Seythal; Editing by Riham Alkousaa

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