Ifo economic institute forecasted that Germany’s economy will recover gradually after being hit badly until marks a historic dive due to the coronavirus pandemic, and will likely bounce back to pre-pandemic level at the end of 2021. The country’s GDP is predicted to contract by 11.6% in Q2 compared to Q1 before take a hike by 6.9% in Q3 and 3.8% in Q4.
Even though the economic institute predicted improvement, but the spokesperson highlighted that the situation was uncertain due to the pandemic and the political reaction about the situation. They also projected Germany’s economy contracting this year is by 6.7% and growing back about 6.4% in the next year.
