German economy grew 2.7% in 2021 after plunge of 4.6% in 2020

The German economy grew 2.7% in 2021 after plunging 4.6% in the first coronavirus crisis year, data showed on Friday, as microchip shortages hurt the car industry and further COVID restrictions slowed down the recovery of Europe’s largest economy.

The preliminary estimate published by Germany’s Federal Statistics Office was in line with a Reuters poll of analysts.
Source: Reuters (Reporting by Michael Nienaber, Editing by Zuzanna Szymanska)