FRANKFURT, April 8 — The German economy, Europe’s biggest, is expected to shrink by nearly 10 per cent in the second quarter as the coronavirus paralyses the country, six leading research institutes warned today. “The corona pandemic will trigger a serious recession in Germany,” the think...
Unemployment could climb to 5.9 per cent in Germany this year. — Reuters pic
Gross domestic product likely contracted by 1.9 per cent in the first three months of 2020, and is set to shrink by a whopping 9.8 per cent in the second quarter as companies feel the pain from widespread shutdowns. Like countries around the world, the German government has taken drastic steps to stem the spread of the virus, keeping millions of people at home, closing schools and shops and shutting down factories.
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