Germany's GDP down 2.2 percent in Q1 amid pandemic

Source: Xinhua | 2020-05-16

The gross domestic product (GDP) of Germany in the first quarter of 2020 was down by 2.2 percent on the 4th quarter of 2019 upon price, seasonal and calendar adjustment, according to German Federal Statistical Office (Destatis) reports published Friday.

According to Destatis, the decrease is the largest since the global financial and economic crisis of 2008/2009, and the second largest since German unification.

"The corona pandemic has hit the German economy hard," Destatis noted in a statement.