COVID-19 threatens to knock away Germany’s last pillar of growth

covid 19 threatens to knock away germanys last pillar of growth

Sumary of COVID-19 threatens to knock away Germany’s last pillar of growth:

  • Restaurants, bars and the hotel industry in particular benefited,” VP Bank Group analyst Thomas Gitzel said.
  • But Gitzel added that persistent supply bottlenecks in manufacturing were holding back overall growth, which could be seen in weaker investment activity by companies in machinery and buildings in the third quarter.
  • “The consequences of the pandemic are causing a kind of stop-and-go growth,” Gitzel said.
  • GfK economist Rolf Buerkl said the fourth wave in the COVID-19 pandemic, with infection rates rising rapidly and hospitals reaching capacity limits, was causing concerns that more restrictions for shops and restaurants would follow.

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