Coronavirus LIVE: Germany in CRISIS as deadly outbreak puts Berlin on brink of recession
THE German economy has been left reeling by the coronavirus, as analysis has shown the country is on the brink of recession.
By REBEKAH EVANS
Express.co.uk
Thu, Feb 20, 2020
The Zew survey of financial market experts showed confidence on the future of the German economy is shockingly low. It fell by 18 points this month to a reading of 8.7, way below the 21.5 economists in a Reuters poll expected. It appears the coronavirus has weighed heavily on the mind of investors, making some hesitant.
Achim Wambach, Zew president, said: “The feared negative effects of the coronavirus epidemic in China on world trade have been causing a considerable decline of the Zew Indicator of Economic Sentiment for Germany.
“Expectations regarding the development of the export-intensive sectors of the economy have dropped particularly sharply.
“Besides, the end of 2019 and the beginning of 2020 saw a worse than expected development of the German economy.”
This is the latest announcement in a spate of bad news for the country.
The German economy flattened in the fourth quarter, producing zero growth in worry for the country.
