BUSINESS German economy down by 2.2 pct in Q1 amid pandemic

BUSINESS

German economy down by 2.2 pct in Q1 amid pandemic

Xinhua

16:38, May 15, 2020

VRMCIeeU.jpg

File photo

BERLIN, May 15 (Xinhua) -- The gross domestic product (GDP) of Germany in the first quarter of 2020 was down by 2.2 percent on the 4th quarter of 2019 upon price, seasonal and calendar adjustment, according to German Federal Statistical Office (Destatis) reports published Friday.

According to Destatis, the decrease is the largest since the global financial and economic crisis of 2008/2009, and the second largest since German unification.

"The corona pandemic has hit the German economy hard," Destatis noted in a statement.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue