The German economy fell to 50-year low because of the quarantine

Экономика Германии рухнула до 50-летнего минимума из-за карантина

Photo: dw.com

The fall of the German economy in comparison with the II quarter of 2019 amounted to 11.7%

For full compensation of the historical fall of the German economy can take up to two years.

The gross domestic product of Germany in the second quarter of 2020 decreased by 10.1% over the previous quarter. On Thursday, July 30, told radio Deutsche Welle, citing data from the Federal statistical office of Germany.

In this fall of German economy in comparison with the II quarter of 2019 was 11.7%, which is the lowest figure since the beginning of the quarterly calculations of GDP in 1970.

For full compensation of the historical fall of the German economy could take about two years, it is noted with reference to expert evaluations.

A number of the largest German corporations on 30 June published semi-annual financial statements, showing huge losses.

Railway concern Deutsche Bahn has recorded the largest loss in its history — €3.7 bn Loss a car of the Volkswagen group amounted to €1.4 billion.

Recall that in late April, representatives of the German business is extremely pessimistic assessed the prospects for economic development of the country. The index of business sentiment fell in April to a historically low level − to 74.3 points, down by 11.6 points.

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