Germany’s Economy Ministry said the “catch-up” process in the economy continues but “has recently weakened”. Recovery is “likely to continue as the year progresses”. But pre-pandemic level of activity won’t be reached beginning of 2022.
Also, the recovery is uneven. Automotive and parts sector slowed after the dynamic recovery in the previous months. But mechanical engineering sector reported a decline. However, sentiments continue to improve as business expectations are more optimistic again. Additionally, there was no coronavirus related rise in unemployment.
