Economics
Germany Braces for Worst Economic Slump in Its Post-War History
- GDP forecast to shrink 6.3% this year, Handelsblatt reports
- Economy Ministry is due to publish projections next week
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Germany expects the fallout from coronavirus to lead to the worst economic contraction since the country began its recovery in the aftermath of World War II.
Gross domestic product is forecast to shrink by 6.3% in 2020, a deeper plunge than even during the financial crisis a decade ago, Handelsblatt reported citing Economy Ministry projections due to be presented next week. The low point of the recession -- the worst since at least 1950 -- is expected in April, before a gradual stabilization, according to the daily newspaper.