FRANKFURT – German economic experts say output won't completely bounce back to pre-virus levels until 2022 after a sharp plunge of 6.5% this year, describing the pandemic recession and recovery as taking the shape of a “pronounced V.”The five-member German Council of Economic Experts said Tuesday the economy would see an upswing in the second half of this year followed by more moderate growth reaching 4.9% next year.
It said unemployment would continue to rise this year before falling gradually next year. The experts said recent economic data had made clearer the the impact of the widespread restrictions on travel, business and interpersonal contact.