The German Economy Ministry is out with its latest outlook on the economy, citing a weak final quarter of 2021.
Key takeaways
Coronavirus situation puts brakes on economic recovery.
Expects weak development for GDP in Q4 2021.
Less than a fifth of companies believe supply chain situation will improve by February 2022.
Despite bottlenecks, outlook for exports looks positive.
EUR/USD reaction
Amid pre-Fed and ECB repositioning, EUR/USD is unfazed by the downbeat German economic report, testing highs near 1.1300, up 0.11% on the day.
