Germany in recession as economy shrinks 2.2% in Q1

The German economy de-grew 2.2% in Q1 compared to Q4 as Covid-19 lockdown impacted growth. This decline was the biggest since 2009. It followed with a 0.3% gain in Q3 and 0.1% decline in Q4. Thus technically Germany fell into a recession, owing to two consecutive quarters of negative growth. Additionally factory orders in Mar dipped 15.6% m-o-m and industrial production declined a 9.2% m-o-m.