German economy could shrink by 10% this year due to coronavirus – IW
The German economy could shrink by 10% this year due to coronavirus in a worst case scenario whereby the lockdown continues until the end of June, the German Economic Institute (IW) predicted on Thursday.
“The industrial sector would be hit harder with an 18% decline. In this case, the crisis could continue until the end of the year,” IW said.
Source: Reuters (Reporting by Michelle Martin; editing by Scot W. Stevenson)