Economics
German Economy Stalls, Probably Evading Double-Dip Recession
- GDP shrank 5% in 2020 but nation expects a stagnation in 4Q
- Drop is better than global financial crisis and most neighbors
A pedestrian passes a shuttered restaurant, closed due to lockdown measures, in Berlin.
Photographer: Stephanie Loos/BloombergThis article is for subscribers only.
The German economy stagnated at the end of last year, probably avoiding a double-dip recession that is engulfing the euro area.
The statistics office predicted that the country’s renewed pandemic lockdown won’t have the same severe impact as restrictions earlier in 2020. It estimates output remained flat in the fourth quarter, capping a year that saw an economic contraction of 5%.