Germany's economic recovery is still fragile - Ifo economist

Germany's recovery from the coronavirus pandemic remains fragile despite expectations that the economy will continue healing from its biggest contraction on record in the second quarter, Ifo institute economist Klaus Wohlrabe said on Tuesday.

"We are still not at the pre-crisis level," Wohlrabe said after Ifo's business sentiment survey showed that morale had improved more than expected in August. "The second coronavirus wave shows that we are still not out of the woods."

Ifo expects the economy to grow by almost 7% in the third quarter after contracting by a record 9.7% between April and June.