FOREX TradingCharts.com

Financial News: IfW Kiel Predicts 7.1% Fall In German GDP

IfW Kiel Predicts 7.1% Fall In German GDP In 2020, 7.2% Growth Next Year

05/19/2020 - 11:58:00 (RTTNews)

(RTTNews) - Germany's economy is set to shrink 7.1 percent this year due to the impact of the coronavirus, or Covid-19, the think tank IfW Kiel said in a report on Tuesday. However, the biggest euro area economy is forecast to entirely reverse the contraction with 7.2 percent growth next year. "The low point of the crisis has been overcome, but the catch-up process continues well into the coming year," IfW Kiel said. In the second quarter, the German GDP is expected to fall a massive 11.3 percent from the previous three months, marking the biggest quarterly decline since the Federal Republic formed, IfW economic chief Stefan Kooths said. Unemployment is set to increase to 3 million people this year and the jobless rate is seen to climb to 6.1 percent, the think tank added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Italy's Manufacturing Downturn Eases In May (06 min(s), 26 sec(s) ago)
(RTTNews) - Italy's manufacturing activity downturn eased in May as coronavirus, or Covid-19, ...Full Story»

Hong Kong Retail Sales Continue To Fall In April (01 hr(s), 07 min(s), 26 sec(s) ago)
(RTTNews) - Hong Kong's retail sales fell for the fifteenth straight month in April, figures f ...Full Story»

Czech Manufacturing Sector Contracts Further In May (01 hr(s), 17 min(s), 26 sec(s) ago)
(RTTNews) - The Czech Republic's manufacturing sector contracted at the second sharpest pace s ...Full Story»

Spain's Manufacturing Activity Contracts Sharply In May (01 hr(s), 36 min(s), 26 sec(s) ago)
(RTTNews) - Spain's manufacturing sector remained in deep inside contraction zone in May amid ...Full Story»

Poland Manufacturing Sector Continues To Shrink In May (02 hr(s), 12 min(s), 26 sec(s) ago)
(RTTNews) - Poland's manufacturing sector contracted at the second sharpest pace since January ...Full Story»

Turkey Manufacturing Sector Contraction Slows In May (02 hr(s), 12 min(s), 26 sec(s) ago)
(RTTNews) - Turkey's manufacturing sector contracted in May amid coronavirus pandemic, but the ...Full Story»

Sweden Manufacturing Sector Contraction Slows In May (02 hr(s), 41 min(s), 26 sec(s) ago)
(RTTNews) - Sweden's manufacturing sector shrank at a softer pace in May, as restrictions to c ...Full Story»

Russia Manufacturing Sector Continues To Shrink In May (02 hr(s), 44 min(s), 26 sec(s) ago)
(RTTNews) - Russia's manufacturing sector contracted further in May, due to the coronavirus, o ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Italy's Manufacturing Downturn Eases In May

06/01/2020 - 09:03 AM (RTTNews)
(RTTNews) - Italy's manufacturing activity downturn eased in May as coronavirus, or Covid-19, ...Full Story>>

Hong Kong Retail Sales Continue To Fall In April

06/01/2020 - 08:02 AM (RTTNews)
(RTTNews) - Hong Kong's retail sales fell for the fifteenth straight month in April, figures f ...Full Story>>

Czech Manufacturing Sector Contracts Further In May

06/01/2020 - 07:52 AM (RTTNews)
(RTTNews) - The Czech Republic's manufacturing sector contracted at the second sharpest pace s ...Full Story>>

Spain's Manufacturing Activity Contracts Sharply In May

06/01/2020 - 07:33 AM (RTTNews)
(RTTNews) - Spain's manufacturing sector remained in deep inside contraction zone in May amid ...Full Story>>

Turkey Manufacturing Sector Contraction Slows In May

06/01/2020 - 06:57 AM (RTTNews)
(RTTNews) - Turkey's manufacturing sector contracted in May amid coronavirus pandemic, but the ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.