Germany’s IfW Kiel: Economy to shrink in 2020 due to coronavirus

Dhwani Mehta FXStreet

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.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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