German stats office says that Q2 forecasts are for around -10% decline in GDP

Some comments by the German statistics office

  • How Q2 turns out depends in part of the easing of restrictions

Most institutes are pinning the economic contraction in Germany to be somewhere between 10% to 12% in Q2, but either way we all know that it is going to be record-breaking bad considering the lockdown measures and impact of the virus outbreak in the region.

The focus now is whether or not all of the recent progress can translate into a better economic performance in Q3 and Q4. Any real risks of a secondary virus outbreak will throw a real spanner in the works and lead to more concerns about the projected recovery.

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