German economy shrinks by 2.2% in Q1 over virus downturn

BERLIN: The

German economy

shrank by 2.2% in the

first quarter

of the year compared to the same period in 2019 amid a

global downturn

linked to the

coronavirus pandemic

.


Germany's Federal Statistical Office said on Monday that it was the biggest quarterly decline since the 2008-2009 global financial crisis.

Figures show that

private consumption

and exports were the hardest hit. Investments in the engineering sector, construction and public expenditure helped prevent an even bigger downturn.

As Germany's economic dipped 0.1% in the last quarter of 2019, the country has entered what is known as a "technical recession."