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Containers in the port of Hamburg.
That would push the largest European economy into a technical recession, before an expected strong rebound, the German Central Bank said on Monday (02/21/2022).
From January to March, the growth of the German economy “could contract again significantly due to the pandemic”, after a drop in GDP of 0.7% in the fourth quarter of last year.
The entity forecast a rebound for the following quarter, coinciding with the boreal spring.
The Bundesbank explained economic activity fell in the last quarter of 2021 due to an ebb from the covid pandemic, an effect that continues to be felt in the current quarter.
The confinements decreed and the adjustments in consumer behavior strongly affected some sectors.
Technically, a recession is defined as a contraction in GDP for two consecutive quarters. (AFP).