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German Economy Stalls, Probably Evading Double-Dip Recession Bloomberg 1/14/2021 Carolynn Look (Bloomberg) The German economy stagnated at the end of last year, probably avoiding a double-dip recession that is engulfing the euro area. The statistics office predicted that the country’s renewed pandemic lockdown won’t have the same severe impact as restrictions earlier in 2020. It estimates output remained flat in the fourth quarter, capping a year that saw an economic contraction of 5%. The government ran a budget deficit of 4.8% of gross domestic product, the biggest since 1995. © Bloomberg German economy contracted 5% in 2020 Germany is the first advanced economy to publish 2020 GDP figures, and it’s likely to have fared better than its major European peers. Economists predict France and Italy both posted declines of about 9% and U.K. gross domestic product may have shrunk more than 10%.

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