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German recession could be ‘even worse than feared’, economists warn

News Snapshot:

A sticker advertises a 50 per cent discount due to closure of the shop at the door of cosmetic store Yves Rocher in Berlin in August. The decline in the German economy is deeper than previously thought, according to a group of leading economists. Photograph: Tobias Schwarz/AFP via Getty Images Germany’s economic prospects darkened on Thursday when a new forecast by leading economists predicted the country’s recession could be “even worse than feared”. According to five economic institutes, Europe’s largest economy will shrink by 0.6 per cent this year, worse than the -0.4 per cent European Commission forecast. “The most…

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