German Institute for Economic Research, DIW, said the country’s economy would grew only 0.1% in Q1, nearing stagnation. Economic Director Claus Michelsen warned economic performance could be even worse if global outbreak of China’s coronavirus continue.
“So far, however, the corona effect has been unclear and cannot be quantified”, he said, “The export-dependent German industry would be particularly affected if coronavirus continued to spread worldwide.” Industry will also be affected in case of supply disruption for wholesale products sourced from China.
