German’s Bundesbank said in the monthly report that data up to November suggested there was “no significant setback” in the economy in Q4 despite pandemic restrictions. Business confidence also “brightened” strongly in December. The “encouraging signals
give reason to hope that the restrictions that were extended and tightened at the beginning of the new year will not set the economic recovery too far back ”
Though, it also warned, “if the infection rate does not subside significantly and the current restrictions on economic activity last longer or are further tightened, a noticeable setback could nonetheless occur.”
