Germany’s DIW institute warned that second wave of coronavirus infections “has arrived” and “threatens to stifle the economy upswing”. After growing around 6% in Q3, further prospects are “gloomy considerably”. DIW economic barometer for Q4 dropped from 122 pts to 105 pts.
“The upswing will very likely be slowed down significantly,” says DIW economic chief Claus Michelsen. “There are again the threat of sharper restrictions on social and economic life – the pandemic is taking consumers and companies away from confidence. And that at a time when many companies are still struggling with the consequences of the lockdown in spring and have hardly any financial reserves”.
