Skip to comments.Coronavirus lockdown pushes Germany into recession
Posted on 05/15/2020 10:13:50 AM PDT by Olog-hai
The German economy contracted 2.2% in the first quarter of 2020, the worst result since the 2008 financial crisis.
Experts had expected a contraction of around 2%.
The latest data, released by the federal statistics authority Destasis on Friday, also showed revisions to 2019 fourth-quarter figures from zero growth to a contraction of 0.1%.
This means Germany is now in a recession, defined as two consecutive quarters of negative economic growth.
The first quarter figures are only a partial indication of how much the pandemic has harmed Europes largest economy. [ ]
GDP is expected to shrink even further in the second quarter, with some economists saying its could contract by 10%.
Despite easing lockdown measures, the German government remains pessimistic about the economic outlook this year.
Officials have predicted a 6.3% contraction for 2020. If so, this would put Germany in its worst recession since records on quarterly GDP figures began in 1970.
(Excerpt) Read more at dw.com ...
Who didn’t see this coming?
Which is better than the Democrat Depression we are in.
And it’s all the fault of Donald Trump.
Fine, Kraut Bass Terds...
Well, everyone will contract so, this was a great idea, now wasn’t it?
Bundesliga (German league) soccer starting tomorrow. 9:30 on fox 1.
Thanks for that inbfo
The foreign game? (That’s what they call it in parts of Ireland.)
If any game has been more politicized than the NFL’s football, it has to be association football.
Game at 12:30 also.
People will die from delays in health care: cancer, kidney’s...
People will die from procrastinating on seeking help: heart attacks, pneumonia...
People will die from the economic consequences: loss of jobs, insurances...
The lock-down was a bad idea. It did ever as much harm as good, even if you do not consider the negative economic impact. If this had been a disease like polio before a vaccine came about, where 25% of the adults stricken by the disease end up dying, that would be warranted to take such draconian measures, but this corona virus was no more than a flu, despite what is said. 30 years ago, before they were able to isolate and test for it this rapidly and cheaply, based on the symptoms, they would have labeled it as a flu and that would have been the end of it.
Even a cars airbag kills and injures people. We weigh the risks of death and de-gloving (fore arms get skin torn off) with the benefits and the benefits outweigh the costs. But with this virus we didn’t do that.
Don’t worry. Wonder Frau will save them!
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