"German Economy Faces Recession as Bundesbank Warns of Shrinking Growth"
Originally Published 1 year ago — by Financial Times
The Bundesbank has warned that the German economy is expected to continue shrinking, citing the ongoing impact of the coronavirus pandemic. This warning comes as the central bank revised its growth forecast for 2021, projecting a contraction of 5.5% compared to its previous estimate of 3%. The Bundesbank also emphasized the uncertainty surrounding the economic outlook, particularly in light of the resurgence of COVID-19 cases and the potential impact of Brexit.