Flash GDP (Q2 2020) Preview - 07:00 BST

Bbg Cons: -9.0% q/q (sa), -11.4% y/y (wda); Prev (Q1): -2.2% q/q, 2.3% y/y

• Quarterly GDP contracted 2.2% in the first quarter of 2020 as
  a consequence of Covid-19 crisis.
• Germany introduced social distancing measures in Mar and they remained in
  place throughout most of Q2, leading to severe economic consequences
• The German economy is expected to fare slightly better than its European
  peers as the lockdown restrictions had been less strict and ended earlier
  than in other countries.
• Markets expect q/q GDP to fall by 9.0% q/q, while the y/y rate is
  seen declining by 11.4%.
• While, retail sales fell sharply in Apr, they bounced back in May when the
  economy started to reopen.
• The industrial sector showed a similar path.
• June figures are likely to recover further, and survey evidence suggests
  another uptick at the beginning of Q3.