German recession to continue until mid-year

German recession to continue until mid-year
  • Clock-gray 13:16
  • calendar-gray 15 April 2020

The German economy entered a recession in March and the slowdown is expected to continue until the middle of the year, the economy ministry said on Wednesday, APA reports citing Reuters.

“Collapsing global demand, interruption of supply chains, changes in consumer behaviour and uncertainty among investors are having massive impact on Germany,” the ministry said in its monthly report.

It said even if social distancing measures were eased, economic activity would continue to be very subdued and would only pick up gradually.

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