German economy could shrink by 10% this year due to coronavirus – IW

German economy could shrink by 10% this year due to coronavirus – IW

The German economy could shrink by 10% this year due to coronavirus in a worst case scenario whereby the lockdown continues until the end of June, the German Economic Institute (IW) predicted on Thursday, according to Reuters.

“The industrial sector would be hit harder with an 18% decline. In this case, the crisis could continue until the end of the year,” IW said.