Germany is in recession after its economy saw two consecutive quarters of negative growth.
The country’s GDP shrank 2.2% in the first quarter of 2020, the German economy’s worst performance since the financial crisis.
Growth for the fourth quarter of 2019 was also downgraded to -0.1%.
At a press briefing on Friday, Federal Statistics Office official Albert Braakmann warned that the country’s economic downturn due to the coronavirus pandemic is expected to accelerate in the current quarter.
According to CNN, most forecasts predict the economy contracting by about 10% in the second quarter of 2020, although Braakmann said the final result will depend on how coronavirus restrictions are eased.
AFRICA DAILY NEWS, NEW YORK
