German Q3 real GDP likely to show significant growth vs Q2
Germany's economic recovery has picked up steam in the third quarter after moving sideways in the second quarter, with third quarter real GDP likely to show significant growth, according to the Bundesbank monthly report. 'Based on existing data, real GDP, when seasonally and calendar adjusted, is likely to have significantly increased in the third quarter, mainly due to developments in industry, construction, retail and external trade,' the bank said. 'With that, the upward movement in Germany's economy has continued during the summer months after moving sideways in the second quarter,' it added. In the second quarter, German GDP was flat on a seasonally, price and calendar-adjusted basis compared with the first quarter. Official third quarter figures are not due until next month. The bank noted robust developments in the manufacturing sector, which benefited from new orders from abroad and in turn generated more exports.
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