German economy likely shrunk by around 0.3 percent in third quarter - IfW institute

FILE PHOTO: A construction site is pictured near the Hauptbahnhof main train station in Berlin, Germany, July 11, 2018. REUTERS/Fabrizio Bensch - Copyright FABRIZIO BENSCH(Reuters)

By Reuters

Published on 02/11/2018 - 09:34•Updated 09/05/2024 - 04:33

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BERLIN (Reuters) - Germany's economy likely shrunk by around 0.3 percent in the third quarter, the IfW institute said on Friday, adding this was probably largely caused by declines in production in the auto industry due to the introduction of new pollution standards known as WLTP.

Stefan Kooths, head of the forecasting centre at the Cologne-based Institute for Economic Research (IfW), said growth in Europe's largest economy was likely to pick up significantly again in the fourth quarter.