German economy shrinks by 2.2 per cent in first quarter

In  Germany, the economy shrank by 2.2 per cent in the first quarter compared with the previous three-month period as shutdowns in the country.

The latest data, released by the federal statistics authority Destasis yesterday, also showed revisions to 2019 fourth-quarter figures from zero growth to a contraction of 0.1%.

The decline in the January-March period was the biggest since 2009. 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 Europe's largest economy.

Coronavirus lockdown measures were introduced in the country in mid-March, just two weeks before the end of the first quarter.

Meanwhile, Shops have now reopened, restaurants are gradually opening up and auto production has restarted.