Coronavirus- COVID-19 Pushes Germany Into Recession

The coronavirus pandemic has tipped Germany into a recession, official data showed Friday, with Europe’s top economy suffering its steepest quarterly contraction in more than a decade as lockdown measures began to bite. The German economy shrank by 2.2 percent in the first quarter of 2020, federal statistics agency Destatis said, calling the quarter-on-quarter decline “the worst since the global financial crisis” in 2009. 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 percent. That…

Read More