March 26, 2020 / 10:17 AM / 2 months ago

German economy could shrink by 10% this year due to coronavirus: IW

FILE PHOTO: People walk in the main shopping street as shops are closed during the spread of the coronavirus disease (COVID-19) in Cologne, Germany, March 18, 2020. REUTERS/Thilo Schmuelgen/File Photo

BERLIN (Reuters) - The German economy could shrink by 10% this year due to coronavirus in a worst case scenario whereby the lockdown continues until the end of June, the German Economic Institute (IW) predicted on Thursday.

“The industrial sector would be hit harder with an 18% decline. In this case, the crisis could continue until the end of the year,” IW said.

Reporting by Michelle Martin; editing by Scot W. Stevenson

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