March 25, 2020 / 9:25 AM / 5 days ago

German economy could shrink by 5-20% this year - Ifo economist

BERLIN, March 25 (Reuters) - The German economy could contract by between 5% and 20% this year depending on the length of the shutdown caused by the coronavirus outbreak, Ifo economist Klaus Wohlrabe told Reuters on Wednesday.

He said he expected there to be a severe recession in Europe’s largest economy that would last for at least two quarters. (Reporting by Rene Wagner Writing by Michelle Martin Editing by Scot W. Stevenson)

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