The First Part Of German GDP’s Drama In Detail
Martin Moryson (DWS ) | The data published yesterday by the Federal Statistical Office confirms the 2.2% decline in German economic output in the first quarter. This had already been calculated in a previous estimate. Combined with the last negative growth quarter of 2019, Germany is now officially in recession. However, Q1 is only the beginning. The real drama will only become evident in the figures for the Q2. Here we expect a 10 percent decline.
