DIW institute: German economy will probably shrink 2.2% in Q-1

The DIW economic research institute thinks the German economy will probably shrink by 2.2% in Q-1 2009.

In a statement, the Berlin-based think tank said “The current quarter will thus decline as much as the last quarter 2008″ Confirmed figures from the Federal Statistics Office show Q-4 2008 growth contracted 2.1%. The DIW says the industrial sector, excluding construction, is looking particularly weak.