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MNI (London)
GERMAN DATA: Flash GDP (Q1 2020) Preview - 07:00 BST
- Bbg Cons: -2.2% q/q (sa), -2.0% y/y (wda); Prev (Q4): 0.0% q/q, 0.4% y/y 
- Germany's GDP is expected to contract by 2.2% q/q in Q1, which would mark the
lowest level since Q1 2009 and comes after the economy stagnated in Q4. 
- Strict social distancing measures were introduced on Mar 23 in all German
states, slightly later than in Italy, France or Spain. 
- Retail sales already plunged by 5.6% in Mar and reversing previous gains. 
- The industrial sector saw an even steeper contraction in Mar, with output
slumping to a record low of -9.2%. 
- The outlook for Q2 is bleak with the Ifo institute forecasting a decline of
12.2%, downwardly revised from their original forecast of a 9.8% drop. 
- Strict restrictions remained in place in Apr in most states and the country
only started to open-up gradually. 
- IP is seen declining further, indicated by the Ifo production expectations
index plunging in Apr and the truck toll mileage index posting a record low. 
MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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