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German economy to rebound in Q3 from double-digit dip in Q2 - Ifo

BERLIN, June 24 (Reuters) - The German economy should return to a growth path in the third quarter after an expected double-digit contraction between April and June, Klaus Wohlrabe, an economist at the Ifo institute, said on Wednesday.

The Ifo economic institute, whose business climate index rose for the second consecutive month in June as firms believe the worse of the damage wrought by a lockdown to contain the coronavirus is over, expects a third quarter growth rate of around 7%.

“We have passed the economic trough, the low point is behind us and things are looking up again,” Wohlrabe said. “Export expectations have risen significantly.” (Reporting by Rene Wagner Writing by Joseph Nasr Editing by Michelle Martin)

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