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Coronavirus poses risk to Germany economy: Report

Coronavirus poses risk to Germany economy: Report
Virus' global repercussions could impact German economy

By Bahattin Gonultas

BERLIN (AA) - Germany's economic growth may weaken in the first quarter of 2020 due to the coronavirus outbreak, the country's central bank said in a report on Monday.

The outbreak poses risks for the economy by damaging global supply chains, Deutsche Bundesbank's monthly report stated.

The virus, which was first detected in December in the city of Wuhan, the capital of central China’s Hubei province, has caused nearly 1,800 deaths so far, with more than 70,000 confirmed cases.

Economists expect that the virus will hurt the world economy by causing disruptions in fields such as aviation, international trade, and tourism.

The virus' global repercussions could also impact the German economy, the report noted.

The report said a downward trend in country's manufacturing sector is continuing.

After growth of 0.6% in 2019, the Germany economy is expected to grow 1.1% in 2020.

*Writing and contributions by Gokhan Ergocun from Istanbul

source: News Feed
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