The Bundesbank said on Monday the latest wave of the coronavirus pandemic risked pushing the German economy - Europe’s largest - into a technical recession before staging a recovery from the second quarter. After gross domestic product shrank by 0.7% in the last quarter of 2021, “overall economic output could again sink noticeably in the first quarter of 2022, before picking up speed again in the spring,” the German central bank said in its monthly economic report. Pandemic restrictions were mostly to blame for the drop, the Bundesbank said, with measures “hitting some service-sector branches hard”.
Published in The Express Tribune, February 22nd, 2022.
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