Coronavirus-hit German economy contracted by up to 25% - KfW
Share:
BERLIN (Reuters) - German economic output probably declined by some 20-25% for several weeks due to the coronavirus outbreak, the KfW state development bank said on Tuesday, adding that activity likely reached its trough in April if no second wave comes.Germany went into lockdown in March to contain coronavirus contagion, with many firms halting production and shops closing. Last week Chancellor Angela Merkel announced steps to ease restrictions but also launched an "emergency brake" mechanism..