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3/26, 11:52 AM (Source: TeleTrader)
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German economy may contract 10% due to pandemic - IW

The coronavirus outbreak could cause the German economy to dwindle 10% if the pandemic-caused lockdown continues until July, the German Economic Institute (IW) said on Thursday.

"The industrial sector would be hit harder with an 18% decline. In this case, the crisis could continue until the end of the year," the institute stated.

Earlier today, Germany's Robert Koch Institute reported the country's coronavirus death toll climbed by 49 on a daily basis to reach 198.

Breaking the News / MD