May 15, 2020 / 8:08 AM / 14 days ago

Virus-hit German economy suffers worst contraction since 2009

BERLIN, May 15 (Reuters) - The German economy contracted by 2.2% in the first quarter, its steepest three-month slump since the 2009 financial crisis as shops and factories were shut in March to contain the spread of the coronavirus, preliminary data showed on Friday.

On the year, gross domestic product in Europe’s largest economy fell by 2.3% from January to March after a 0.4% expansion in the previous three months, seasonally adjusted figures from the Federal Statistics Office showed.

Analysts polled by Reuters had expected national output to shrink by 2.2% quarter-on-quarter and a 2% contraction year-on-year in seasonally adjusted terms. (Reporting by Paul Carrel and Rene Wagner Writing by Joseph Nasr Editing by Michelle Martin)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below