EXCLUSIVE-Germany seen revising upward its 2020 GDP forecast - source

Credit: REUTERS/ARND WIEGMANN

The German government is set to revise upward its economic growth forecast for this year to a decline of less than 6% from a previous estimate of -6.3%, a coalition source told Reuters on Friday.

BERLIN, Aug 28 (Reuters) - The German government is set to revise upward its economic growth forecast for this year to a decline of less than 6% from a previous estimate of -6.3%, a coalition source told Reuters on Friday.

Economy Minister Peter Altmaier is scheduled to present the revised outlook early next week, the source added.

The German economy contracted by a record 9.7% in the second quarter as consumer spending, company investments and exports all collapsed at the height of the COVID-19 pandemic.

But recent economic data has fanned hopes that Europe's largest economy is set for a strong recovery following the massive coronavirus shock.

(Reporting by Holger Hansen; Writing by Maria Sheahan; Editing by Riham Alkousaa)

((maria.sheahan@thomsonreuters.com; Reuters Messaging: +49 30 22013 3680))

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