Mon, 20 Sep 2021

BERLIN, July 30 (Xinhua) -- Germany's gross domestic product (GDP) rose by 1.5 percent in the second quarter (Q2) this year compared with the previous quarter, the Federal Statistical Office (Destatis) said on Friday.

The economic recovery in Q2 was "mainly due to higher household and government final consumption expenditure," Destatis said. However, GDP was still 3.4 percent below the pre-crisis level in the final quarter of 2019.

Germany's retail sector recovered as partial closures and COVID-19 measures were gradually being relaxed since May. The country's industry, on the other hand, was still struggling with global bottlenecks for intermediate products such as semiconductors, Destatis noted.

Due to the supply bottlenecks as well as growing concerns about a fourth COVID-19 wave, the ifo Institute lowered its economic forecast in mid-June. It expected the German GDP to grow 3.3 percent this year, 0.4 percentage points less than March forecast.

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