German economy likely to contract by 3-6% this year – BDI

German economy likely to contract by 3-6% this year – BDI

© Reuters. © Reuters.

BERLIN (Reuters) – The German economy is likely to shrink by 3-6% this year, the head of the BDI industry association said on Monday, adding that this forecast was based on economic activity being disrupted for a maximum of six weeks.

Europe’s largest economy is in virtual lockdown. Schools, shops, restaurants and sports facilities have closed and many firms have stopped production to help slow the spread of the disease.

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