German economy grows 8.2% in Q3 on coronavirus reprieve

German economy grows 8.2% in Q3 on coronavirus reprieve

Federal statistics agency Destatis said the growth, coming after a historic slump in the second quarter, was based on "higher final consumption expenditure of households".

The German economy grew by 8.2 per cent in the third quarter of 2020 as the country enjoyed a period of relief from virus restrictions, official data showed Friday.

Federal statistics agency Destatis said the growth, coming after a historic slump in the second quarter, was based on "higher final consumption expenditure of households, higher capital formation in machinery and equipment and a sharp increase in exports".

Overall, the German government expects the economy to shrink by 5.5 per cent in 2020, Economy Minister Peter Altmaier said.