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    GDP Growth – GER

    GDP Growth Rate for Germany (2020 Q1) On 15th Mai 2020, German Federal Statistics Office (DESTATIS) has announced the recent figures for the German gross domestic product (GDP) growth rate for the first quarter of 2020. As expected before, Covid-19 had a drastic effect on the output. The price-, seasonally and calendar adjusted GDP fell sharply by 2,2% compared to the fourth quarter of 2019. Change on the same quarter a year earlier occurred as also 2,3% down. This drop is the largest decrease since 2008/2009 Global Financial and Economic Crisis and second after the German Unification in 1989. In the press conference it is stated, that household consumption expenditure…