June 15, 2020 / 8:22 AM / 19 days ago

German economy to contract more sharply in Q2 than in Q1- ministry

BERLIN, June 15 (Reuters) - Germany’s economic output will fall further in the second quarter than in the first but the easing of coronavirus-related restrictions and leading indicators suggest the trough has been passed, the economy ministry said on Monday.

A gradual relaxation of the lockdown means the economic revival likely started from May, the ministry said in its monthly report, but it cautioned that the recovery in the second half of the year and afterwards would be sluggish.

The ministry said leading economic indicators did not point to a sustainable recovery in the job market in the next few months. It predicted a significant decline in exports and imports for 2020 as whole. (Reporting by Riham Alkousaa Editing by Michelle Martin)

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