DIW says the economy is likely to contract 3% in the first quarter of 2021

Germany, Europe’s largest economy, it will probably contract 3% in the period January to March 2021, as the latest forecasts published by the German economic institute DIW showed on Wednesday.

Key Comments:

First quarter German GDP is expected to fall 3% QoQ”.

“Forecast German GDP for the fourth quarter unchanged QoQ.”

“The blocking measures are also gradually affecting the industry“.

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