14.08.202012:35:00UTC+00German Economic Recovery To Take Long Time: Economy Ministry

The German economic recovery is likely to take a long time, the economy ministry said in its monthly report, released Friday.

The economy has started to recover since May. The ministry said gross domestic product will recover strongly in the third quarter.

However, the recovery process will be slow and take a long time to complete, the ministry added.

In the second quarter, the largest euro area economy had contracted at a record pace of 10.1 percent as the coronavirus pandemic took its toll on exports, domestic consumption and investment.