People enjoy a sunny day outside a closed bar during the lockdown due to the coronavirus outbreak downtown in Munich, Germany, Saturday, May 9, 2020. Due to the coronavirus the economy worldwide expects heavy losses. (AP Photo/Matthias Schrader)

German economy shrinks by 2.2% in Q1 over virus downturn

May 25, 2020 - 4:40 am

BERLIN (AP) — The German economy shrank by 2.2% in the first quarter of the year compared to the same period in 2019 amid a global downturn linked to the coronavirus pandemic.

Germany's Federal Statistical Office said Monday that it was the biggest quarterly decline since the 2008-2009 global financial crisis.

Figures show that private consumption and exports were the hardest hit. Investments in the engineering sector, construction and public expenditure helped prevent an even bigger downturn.

As Germany's economic dipped 0.1% in the last quarter of 2019, the country has entered what is known as a “technical recession.”

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