FRANKFURT – A group of leading economists say Germany, Europe's largest economy, will suffer a deep slump in the first half of this year but should rebound relatively quickly from the disruption of the virus outbreak.
The German Council of Economic Experts predict that the economy will shrink 2.8% for the full year and rebound next year with growth of 3.7%, although their report issued Monday acknowledged a high degree of uncertainty about the length of the restrictive measures that have shut down much of the economy.
The base scenario is a V-shaped recovery, with a sharp downturn and quick rebound. Member economist Volker Wieland of Frankfurt's Goethe University said that the downturn would be “deeper but not longer” than the recession