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

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

German economy likely shrunk by around 0.3 percent in third quarter - IfW institute
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FABRIZIO BENSCH(Reuters)
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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.

(Reporting by Michelle Martin, editing by Riham Alkousaa)

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