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German Economy Bounced Back 3rd Quarter 2020 By More Than Previously Reported
The 3rd quarter was when pandemic restrictions were all lifted and Germany was back to almost normal business.
German gross domestic product GDP grew at a record rate of 8.5% compared with the second quarter according to revised figures from the Federal Statistics Office.BusinessRiskTV
The Statistics Office revised its third-quarter GDP estimate up to 8.5%, from the previous flash estimate of 8.2%.
A pandemic second wave of the virus affecting most of Europe has caused COVID-19 infections to surge to record daily highs in Germany in the past couple of months. Germany has been put in partial-lockdown for November which is likely to be extended to 20th December 2020. The second German lockdown is likely to cause double-dip contraction of the economy in the final quarter of the year inevitable. The strong recovery of manufacturinng in Germany may save Germany from a second contraction of the German economy.
20th August 2020 Germany Considers Wider Use Of Universal Basic Income UBI
If people do not have a job they create a burden on society that has to be solved one way or another. If they have a basic income level most people spend close to the full amount and thereby increase business income and help grow the economy. In addition they can contribute in other ways to the benefit of society if they do not have to work every day including looking after elderly parents. However it costs a lot of money to give people without a job a sizable amount every month without any measurable output. Now they are going to measure the unmeasurable of UBI.
Being giving more people more money if they are not working the German government wants to know the costs and benefits. German researchers are to give a group of people just over a thousand pounds every month unconditionally for three years in a study to evaluate whether to introduce UBI and if so advise at what level the UBI should be to work for everyone in Germany.
19th August 2020 German Public Health Regulator Thinks COVID-19 Vaccinations Could Start Early 2021
The head of the Paul Ehrlich Institute told Funk Media Group the first coronavirus vaccinations for certain groups of people could start as soon as the beginning of 2021. First and second phase vaccine trials showed that some of the vaccines tested triggered an immune response against the virus.
Increasing Evidence Germany Will Recover Very Quickly From Economic Impact Of Coronavirus
Industrial orders and domestic consumer purchases are recovering quickly and accelerating month by month. Is this sustainable? Well Germany was struggling to stay out of recession before the pandemic hit. Dieselgate scandal was not helping the economy perform stronger. Germany is putting the diesel engine scandal behind it now people are focused on pandemic recovery.
If China continues to recover then Germany will also. A trade dispute between Eurozone and USA could become a problem. If Germany forces the rest of EU to settle Brexit amicably then Germany can see a rapid sustainable economic recovery.
Mercedes Benz Demand Indicates Automotive Industry Recovering From Cornavirus Pandemic
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