German Recovery Slower on Weaker Manufacturing, Ministry Says

(Bloomberg) -- Germany’s economic recovery slowed recently due to weaker demand in the autos sector and declining machinery output, according to a government report Monday.

“The recovery in the German economy continues but has recently weakened,” the Economy Ministry said in its latest monthly report. “In the course of the year, the recovery should proceed but the pre-crisis level from late 2019 will only be reached by early 2022.”

Companies are more upbeat, while the outlook for Germany’s export industry is cautiously optimistic, the report said, citing an uncertain global economic outlook.

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