Economics
German Economy Robust at End of 2020 But Near-Term Outlook Weak
- GDP gew 0.3% in fourth quarter, up from initial 0.1% estimate
- Exports are strong but lockdowns are hitting domestic spending
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Germany’s economy proved more resilient to the coronavirus than expected at the end of 2020, though extended lockdowns and slow vaccine rollouts mean the start of 2021 still looks bleak.
Output rose 0.3% in the fourth quarter as construction picked up and exporters benefited from stronger international demand. Consumer and government spending both dropped.