A group of five leading economic institutions in Germany is forecasting a severe recession with a contraction of 9.8% in the second quarter of 2020 after shrinking by 1.9% in the first quarter. Output growth is set to fall by 4.2% in 2020 and bounce by 5.8% in 2021. Consumer prices are set to increase by only 0.6% this year and pick up to 1.2% next year. Earlier, the Bank of France said it predicts the economy contracted by 6% in the first quarter and that every two weeks of lockdown cost the economy 1.5% in yearly growth. EUR/USD is trading around 1.0850, down on the day. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cryptocurrency Market Update: Bitcoin Cash rallies ahead of halving, Bitcoin stable above $7,200, ETH and XRP in the green FX Street 2 years A group of five leading economic institutions in Germany is forecasting a severe recession with a contraction of 9.8% in the second quarter of 2020 after shrinking by 1.9% in the first quarter. Output growth is set to fall by 4.2% in 2020 and bounce by 5.8% in 2021. Consumer prices are set to increase by only 0.6% this year and pick up to 1.2% next year. Earlier, the Bank of France said it predicts the economy contracted by 6% in the first quarter and that every two weeks of lockdown cost the economy 1.5% in yearly growth. EUR/USD is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
