Destatis: Germany’s second lockdown has stopped economic recovery

Germany’s Federal Statistical Office (Destatis) is out with an assessment of the economy, in the wake of the second lockdown.

Key findings

“Germany's second lockdown has stopped economic recovery.

“But Q1 data so far suggests there won't be a drastic drop in GDP as seen during the first lockdown.”

This comes ahead of the German ZEW Survey, which is expected to show that the investor sentiment in Europe’s economic powerhouse is expected to improve again this month on rising stock prices and vaccination rates.

Meanwhile, EUR/USD holds onto its bounce around 1.1930, trading modestly flat on the day, as the focus remains on the ZEW data.