Reuters reports that DIW institute said that the German economy likely grew by around 6% in the third quarter but the recovery from the coronavirus crisis seen over the summer will probably slow as a second COVID-19 outbreak hits Europe's biggest economy.

DIW pointed to the threat of further coronavirus-related restrictions and said many companies were still struggling with the consequences of the lockdown imposed in spring and had hardly any financial reserves left.

The Federal Statistics Office is due to release preliminary German gross domestic product (GDP) data for the third quarter on Oct. 30.