Germany's GDP will decline significantly in the second quarter — the Bundesbank

In the second quarter, a substantial decline in the German economy, despite the easing measures to contain the coronavirus, according to the monthly report of the Bundesbank, published on Monday.

«Despite the measures taken to mitigate social and economic life in Germany is still far from what was previously considered normal», — said the Bank.

Although there are many signs that the macroeconomic development will improve again in the second quarter due to the weakening of deterrence, there is very high uncertainty about future economic development, said the Bank.

The largest economy in the Euro-zone entered a technical recession in the first quarter, GDP decreased by -2,2%, the biggest drop since the global financial crisis in 2008-2009.

The Bundesbank said that the Outlook of the labor market in the coming months as bad.

Information-analytical Department TeleTrade


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