German economy is bouncing back from coronavirus – Ifo economist

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The Germany economy is picking up speed, with the bounce-back from the coronavirus lockdown driving the largest upward leap in retail conditions seen since German reunification more than three decades ago, Ifo economist Klaus Wohlrabe said.

He said the economy would grow by 1.3% in the second quarter, and by a further 3.6% in the following quarter, with bottlenecks and rising input costs pushing many companies to raise prices.

Even in hospitality, among the sectors worst-hit by lockdown, where conditions were still bad, there was growing optimism, he added.

Photo: EPA/Arno Burgi