Left Menu
Development News Edition

German economy gradually recovering after pandemic slump - Ifo

Ifo expects gross domestic product to contract by 11.9% in the second quarter when compared to the January-March period before growing by 6.9% in the third quarter and 3.8% in the last quarter of this year. "From now on, things are gradually improving again," Ifo said, but added that the situation was uncertain due to the pandemic and the political reaction to it.

Reuters | Berlin | Updated: 01-07-2020 13:55 IST | Created: 01-07-2020 13:30 IST
German economy gradually recovering after pandemic slump - Ifo
Representative Image Image Credit: Wikipedia

Germany's economy will gradually recover after a historic slump due to the coronavirus pandemic and will likely return to last year's level at the end of 2021, economic institute Ifo said on Wednesday. Ifo expects the gross domestic product to contract by 11.9% in the second quarter when compared to the January-March period before growing by 6.9% in the third quarter and 3.8% in the last quarter of this year.

"From now on, things are gradually improving again," Ifo said but added that the situation was uncertain due to the pandemic and the political reaction to it. Ifo sees Europe's largest economy contracting by 6.7% in 2020 as a whole and growing by 6.4% in 2021.


TRENDING

OPINION / BLOG / INTERVIEW

Why COVID-19 is unstoppable in USA despite it being ranked at the top of GHS Index?

Several worst-hit countries such as Italy, France, Spain, the UK, Canada, and Russia have peaked COVID-19 cases in April. Almost all of them have gradually flattened the curve. However, the USA is setting new daily records of infections tha...

COVID-19 seems cooking biggest ever global scam

The increasing number of corruption cases on COVID-19 funds from throughout the world and involvement of high profile persons indicate that the countries cant ignore corruption in their pandemic response programs. This has generated the nee...

Health Management Information Systems lack holistic, integrated, and pandemic resilient character

Being a part of the United Nations system, the World Health Organization WHO deserves its share of rebuke for its alleged failure issue COVID-19 health emergency alerts on appropriate time. However, the pandemic has also exposed loopholes i...

Pride in the time of coronavirus: a welcome move online?

This year is different in many ways not least as celebrations are also taking place against the dramatic backdrop of a global health crisis and a resurgence in grassroots activism following the death of George Floyd in Minneapolis. ...

Videos

Latest News

Africa could have COVID-19 vaccine in Q1 if human trials work - S.Africa trial lead

Africa could have a COVID-19 vaccine in the first quarter of 2021 if human trials underway in South Africa succeed, a university professor heading the trials said on Thursday.The ChAdOx1 nCoV-19 experimental vaccine is one of 19 being teste...

U.S. forecaster says La Niña expected to develop in fall 2020

A U.S. government weather forecaster on Thursday forecast the development of La Nia pattern during the August-October season, which is expected to persist through the remainder of 2020.There is about 50-55 chance of La Nia developing during...

Terrorists target Army QRT convoy in Pulwama; solider, woman injured

A soldier and a woman were injured when terrorists fired upon an Army quick reaction team QRT convoy in Pulwama district of Jammu and Kashmir on Thursday, a defence spokesperson said. An ambulance in the QRT convoy moving from Khrew was fir...

Brazil press group files criminal complaint against Bolsonaro for removing mask

The Brazilian Press Association on Thursday filed a criminal complaint to the Supreme Court against President Jair Bolsonaro, after he took off his mask in a televised interview in which he announced he had tested positive for the novel cor...

Give Feedback