Germany’s Altmaier: Economic forecasts to remain solid as long as coronavirus contained
|Ahead of the release of the German autumn economic forecasts, the Economy Minister Peter Altmaier said that the government is unlikely to make major revisions to the estimates.
The government expects the GDP to contract 5.8% in 2020 before rebounding by 4.4% next year.
Key quotes
“That of course assumes we will bring the pandemic under control, that we break the rapid increase in infections, and we succeed in returning to the situation we had from May to August.”
“If we don’t get the numbers down, then we are going to face bigger problems.”
Market reaction
EUR/USD remains stuck in a familiar range just above the 1.17 level so far this Monday, somewhat helped by a better market mood. The spot currently trades at 1.1711, almost unchanged on the day.
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