Lockdown to Weigh on Germany’s Economic Growth

A prolonged lockdown in Germany to help combat the spread of the Coronavirus is expected to impact the growth of the largest economy in Europe, according to market experts, Reuters reported.

Ifo is expecting the second quarter (Q2) of 2021 to see a growth rate of 3%.

As for Q1, the German economy is expected to stagnate with a 2% contraction, according to Commerzbank economist Joerg Kraemer/

It is worth noting that in 2020, the German economy contracted by 5%.

The German government recently decided to extend the lockdown measures until February to help curb the spread of the pandemic amid a new wave and a surge in the number of new cases.