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According to the latest forecasts published by the German central bank, Bundesbank (Buba), the economy is seen contracting 7.1% in 2020.

Additional takeaways

German stimulus may raise 2020 GDP by more than 1%.

Sees German GDP growth of 3.2% in 2021, 3.8% in 2022.

Projections do not include recent fiscal package.

Fiscal support appropriate, takes positive view on govt’s measures.

Low point in growth appears to have passed in April.