GERMANY REVISES 2020 GDP FORECAST AT-5.8%

The coronavirus crisis is expected to inflict less damage than initially feared on the German economy, with the government now forecasting a 5.8-per-cent contraction for 2020, Deutsche Presse-Agentur (dpa) reported late on September 1. 2020.

Economy Minister Peter Altmaier announced the provisional outlook in Berlin on Tuesday, noting that the fallout from the pandemic in the first half of the year had not been as severe and the rebound "faster and more dynamic" than expected.

In late April, when many of the sweeping restrictions to fight the virus were still in place, the government had predicted a decline of 6.3 per cent.

The new forecast would still make it the worst recession in Germany's post-war history.