German economy to shrink by more than 6% this year: government source

Economic Indicators14 hours ago (Apr 24, 2020 07:05AM ET)

BERLIN (Reuters) – The German economy will contract by more than 6% this year, a government source told Reuters on Friday, which would be a post-World War Two record.

The economy will rebound from the coronavirus pandemic in 2021 with growth of more than 5%, the source added.

Spiegel magazine reported the figures first, citing an Economy Ministry forecast to be unveiled next week.

An Economy Ministry spokeswoman said there were no final growth forecasts yet.

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