June 30, 2020 / 8:51 AM / 14 days ago

German economy contracted by 12% in Q2 - DIW institute

BERLIN, June 30 (Reuters) - Germany’s economic output fell by 12% in the second quarter compared to the previous one, but the economy has already passed its low point, DIW economic institute said on Tuesday.

“Things are improving again,” DIW Economic Director Claus Michelsen said in a statement, adding that the easing of coronavirus restrictions was having a positive effect on consumption and industrial production. (Reporting by Riham Alkousaa; editing by Thomas Seythal)

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