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German Economic Recovery To Take A Breather, Says Bundesbank

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Germany's economic recovery is likely to take a breather this autumn as the supply chain issues continue to weigh on industrial output, Bundesbank said in its monthly report, released Monday.

The central bank observed that risks from an intensified pandemic would exist throughout the winter half-year.

"As things stand at present, the macroeconomic effects are likely to be less severe than in previous pandemic waves," the bank said.

The Bundesbank expects inflation to rise to just under 6 percent in November, but to decline noticeably in January when statistical special effects, especially the VAT base effect, expire.

"But it could still be well over 3 percent for a long time," the bank added.