According to the Kiel Institute for the World Economy (IfW Kiel), a private German think-tank, the German economy is likely to enter a recession due to coronavirus.
Key findings
“Europe’s biggest economy to contract by 0.1% this year due to the coronavirus before rebounding by 2.3% next year.”
“We cannot at the moment put a number on the concrete economic effects of the coronavirus.”
“The forecast was based on much uncertainty and on the assumption that the pandemic would ebb around mid-year.”
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