Latest data released by Destatis - 25 May 2020
- GDP (non-seasonally adjusted) -1.9% vs -1.9% y/y prelim
- GDP (working day adjusted) -2.3% vs -2.3% y/y prelim
- Private consumption -3.2% vs 0.0% q/q prior
- Government spending +0.2% vs +0.3% q/q prior
- Capital investment -0.2% vs -0.2% q/q prior
Slight delay in the release by the source. The preliminary report can be found here. No change to the initial estimates as this reaffirms that the virus outbreak and lockdown measures in March marked the beginning of the recession in Germany.
April and Q2 will reflect much worse economic conditions and now the question will be whether or not the recovery can gather pace in June/July.
