“Economic output in Germany is likely to have risen sharply in the third quarter of 2020,” the Bundesbank writes in its latest Monthly Report. As measured by quarterly gross domestic product, the German economy may have already recouped slightly more than half of the dramatic losses sustained in the first half of the year. According to the experts, there will probably be only a relatively small rise in economic output in the current quarter.

Germany’s current account recorded a surplus of €22.5 billion in October 2020, down €2.7 billion from the previous month’s level.

The financial accounts data for Germany announced in this press release are published for the first time pursuant to the provisions of the European System of Accounts 2010 (ESA 2010). This methodological framework replaced the previous ESA 1995 on 1 September 2014, and since then has constituted the binding basis for all relevant statistics in the European Union.

The financial assets of households rose by €64 billion, or 1.3%, on the previous quarter to €4,871 billion by the end of the third quarter.

Germany’s current account recorded a surplus of €16.5 billion in August 2020, down €4.6 billion from the previous month’s level.

The financial assets of households increased by €23 billion, or 0.5% on the quarter, to €5,027 billion at the end of the second quarter of 2013.