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Germany’s full-year GDP data for 2020



German Chancellor Angela Merkel (Angela Merkel) held a press conference on the actual situation during the novel coronavirus/COVID-19 pandemic after meeting with her so-called Coronavirus Cabinet in Berlin on November 2, 2020 When I took off my mask.

Kenit | AFP | Getty Images

According to the annual GDP (Gross Domestic Product) data released on Thursday, the German economy will shrink by 5% in 2020.

The preliminary figure is slightly higher than the 5.1

% expectation, after Germany and the rest of the world experienced a year of economic turmoil, as the coronavirus pandemic prompted the widespread collapse of businesses and economies.

Coronavirus cases have led to multiple lockdowns of public life and economic activities in Germany. Prime Minister Angela Merkel announced last week that the latest lock-up period will be extended to the end of this month.

While people are increasingly worried about this more deadly variant of the virus that was originally discovered in the UK, the German newspaper Bild reported earlier this week that Merkel had already been at a meeting of members of her Christian Democratic Union party. Said that the current blockade may continue until early April.

According to data from the Robert Koch Institute, Germany has reported more than 25,000 new coronavirus cases on Thursday in the past 24 hours, bringing the total number of cases to 1,978,590.

Carsten Brzeski, head of ING’s global macros, said that “continuous lock-in and fading one-off factors are not optimistic for the first quarter of 2021.”

“Given that one-off positive factors such as inventory increase and construction may no longer be useful in the fourth quarter, and in the context of the lockdown and the Chinese New Year, China’s demand may also weaken, the German economy’s performance in the first quarter should be weak,” he Said in a report on Thursday.

“Although it seems that the German economy will avoid dark circles in the last quarter of 2020, it is difficult to see how it can play the same role again in the first quarter.”


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