BERLIN – The German government on Wednesday revised its growth forecast for this year down to 3% as Europe's biggest economy faces persistent headwinds from the coronavirus pandemic.
In late October, the government had forecast growth of 4.4% this year. The country started a partial shutdown shortly afterward and deepened it in mid-December.
That lockdown, Germany's second, is still in place. Official data released earlier this month showed that the economy shrank by 5% last year, ending a decade of growth.
That was still a smaller drop than many had expected. Economy Minister Peter Altmaier said that “while industry is still robust at present, the services sector is badly hit.” “We are currently seeing a flattening of the infection