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German economy stutters as coronavirus curbs push up savings rate

The German economy shrank more than expected in the first quarter as coronavirus-related restrictions spurred householders to put more money than ever into savings, data showed on Tuesday. Europe s largest economy contracted by 1.8 per cent quarter on quarter and by 3.1 per cent on the year, the Federal Statistics Office said. The readings, for which a Reuters poll had forecast drops of 1.7 per cent and 3.0 per cent respectively, were significantly weaker than the euro zone average. German households disposable income increased slightly as the government ploughed billions of euros into job protection schemes and cash handouts such as extra child benefits. But curbs linked to containing the pandemic also made it harder for consumers to spend it.

Covid hit on German economy bigger than expected in Q1

Covid hit on German economy bigger than expected in Q1
rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.

Destatis ухудшил оценку снижения ВВП Германии в первом квартале до 3,4%

Destatis ухудшил оценку снижения ВВП Германии в первом квартале до 3,4%
1prime.ru - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 1prime.ru Daily Mail and Mail on Sunday newspapers.

Summer boom beckons for German economy after winter COVID blues

Summer boom beckons for German economy after winter COVID blues
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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