Germany Now Officially In A Recession

DW: Coronavirus lockdown pushes Germany into recession

Germany’s economy contracted 2.2% in the first quarter of 2020. With most of coronavirus lockdown measures taking place in the second quarter, experts expect future figures to be even worse.

The German economy contracted 2.2% in the first quarter of 2020, the worst result since the 2008 financial crisis.

Experts had expected a contraction of around 2%.

The latest data, released by the federal statistics authority Destasis on Friday, also showed revisions to 2019 fourth-quarter figures from zero growth to a contraction of 0.1%.

This means Germany is now in a recession, defined as two consecutive quarters of negative economic growth.

The first quarter figures are only a partial indication of how much the pandemic has harmed Europe's largest economy.

Read more ....

WNU Editor: Germany is not alone .... Europe's top three economies are now in recession. The real shock is still to come (CNN). More here .... Coronavirus tips Germany into recession, joining Italy and France, with Europe's biggest economy seeing worst quarterly fall in a decade (Daily Mail).

More News On Germany Now In A Recession

Germany in recession as economy shrinks 2.2% in 1st quarter -- AP
Coronavirus pushes German economy into recession -- BBC
Germany in recession as coronavirus blights eurozone economies -- The Guardian
Coronavirus: Germany in recession as economy takes biggest hit since crash -- SKY News
German economy posts sharpest contraction since the financial crisis -- CNBC
"Will Get Worse" - Virus Pushes Germany Into Recession -- Zero Hedge
Germany plunges into recession as coronavirus hits - posts sharpest GDP contraction since global financial crisis -- Business Insider