- Bundesbank: Germany's economic output is expected to shrink noticeably in Q1 but to return to significantly higher level from spring - Reuters
Market news
22 February 2021
Bundesbank: Germany's economic output is expected to shrink noticeably in Q1 but to return to significantly higher level from spring - Reuters
- Sees Q1 contraction to be more shallow than this time last year, as construction and industry continue to grow and other businesses adapt to the pandemic-related restrictions
- Says stronger-than-expected bounce in German inflation was mainly caused by value-added tax hike and changes in index that reflect last year's lockdown; expects further temporary effects in coming months for the same reason
- Notes that collective wages actually paid out decreased last year, as many employees were put on short-time work
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