Economics
German Economy Seen Shrinking 10% This Quarter Due to Virus
- GDP forecast to decline 4.2% in 2020, rebounding 5.8% in 2021
- Recession to have ‘profound impact’ on labor market, finances
This article is for subscribers only.
Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis.
Germany’s economy will shrink this quarter at more than twice the pace recorded at the height of the financial crisis, leading research institutes forecast, adding to evidence of the heft of the blow to European economies due to the coronavirus pandemic.