Coronavirus hit on German economy bigger than expected in first quarter

[BERLIN] The German economy shrank by a bigger than expected 1.8 per cent on the quarter in the first three months of the year as coronavirus curbs crushed private consumption in Europe's largest economy, data showed on Tuesday.

On the year, gross domestic product contracted by 3.1 per cent, the Federal Statistics Office said.

A Reuters poll had pointed to a first-quarter contraction of 1.7 per cent on the quarter and 3.0 per cent on the year in seasonally adjusted terms.

REUTERS