Germany’s IfW Kiel: Economy to shrink in 2020 due to coronavirus
|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.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.