Germany In Recession Due To Pandemic

Germany In Recession Due To Pandemic

German output shrank by 2.2% in the first quarter of 2020, official data showed Friday, as the coronavirus pandemic tipped Europe’s top economy into a recession, going by AFP report.

The quarter-on-quarter contraction is “the worst since the financial crisis” in 2009, federal statistics office Destatis said.

The agency also revised its gross domestic product (GDP) figure for the final quarter of 2019 from zero growth to a contraction of 0.1%, meaning Germany has now experienced two consecutive quarters of contraction – the technical definition of a recession.

German Economy Minister Peter Altmaier last month warned that the country was facing “the worst recession” in its post-war history as the pandemic batters the global economy.

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