In Germany, the third quarter will end with "robust" economic growth, at least according to Bundesbank estimates. In its latest monthly bulletin, the German Central Bank points out that between June and September an essential contribution came from domestic demand, driven in turn by the surprising increase recorded in the retail sales sector.
The good performance of industrial production and building activity also weighed heavily. As for the months to come, the Bundesbank prefers not to say too much, since "it remains to be seen" what the impact of the constantly declining stock markets and the "significant worsening of expectations" will be on the public and corporate budgets. In any case, the German Finance Ministry forecasts GDP growth of 2011% for 3.
