Official figures: German economy plunges into corona recession - the worst is yet to come

The German economy is hit hard by the corona pandemic - this is also shown by new figures that the Federal Statistical Office presented on Friday.

• It has long been foreseeable that the German economy will suffer greatly from the Corona crisis. Now there are new numbers.
• According to the Federal Statistical Office, the gross domestic product shrank by 2.2 percent in the first quarter.
• Here you will find the basic facts about the corona virus * and the corona news from Germany. We also offer you the current number of cases in Germany * on a map. The following recommendations for corona protective measures are currently available.

Berlin / Wiesbaden - Germany has slipped into recession in the wake of the Corona crisis. The economic performance in Germany in the first quarter due to the corona crisis slumped. The gross domestic product shrank by 2.2 percent compared to the previous quarter, as the Federal Statistical Office announced on Friday in Berlin.

Although the spread of the corona virus did not significantly impact economic performance in January and February, it is the sharpest decline since the global financial and economic crisis of 2008/2009.

Corona crisis: German economy in recession - the worst is yet to come

However, economists have not yet bottomed out with the economic downturn in the first quarter . The federal government expects the worst recession in post-war history in 2020 as a whole . The economic output of Europe's largest economy is therefore expected to shrink by 6.3 percent, although the economy is expected to pick up again in the second half of the year.

Industrial production fell sharply in almost all areas in March 2020. The #automotive industry was hit hardest: production fell by almost a third compared to February 2020. https://t.co/4BSZq4XlQV # COVID19 pic.twitter.com/wBgfJCmxMP

In the final quarter of 2019, economic performance had declined by 0.1 percent compared to the previous quarter, according to the Wiesbaden authority's new calculation. If economic output falls two quarters in a row, economists speak of a " technical recession ".

Corona crisis: economy facing problems - also Germans' buying mood at a low point

The fear of short-time work or even job loss also dampens the mood of consumers. The consumer confidence declined, according to the market researchers of the Nuremberg GfK at a historic low. The corona pandemic could affect people's buying mood for a long time: According to a GfK survey, one in three believes that their financial situation will deteriorate in the next twelve months.

In the past, the buying mood of consumers in particular had kept Europe's largest economy going. German exports had already slowed in 2019, burdened by international trade conflicts and the slowdown in the global economy.

dpa / AFP / fn

* Merkur.de is part of the nationwide Ippen-Digital editors network.