German economy likely shrank by record 9.8% in second-quarter due to coronavirus, institutes say

BERLIN (Reuters) - The German economy, Europe's largest, probably shrank by 9.8% in the second quarter, its biggest decline since records began in 1970, due to measures imposed to slow the spread of the coronavirus, Germany's leading think tanks said on Wednesday.That would be more than double the drop seen in the first quarter of 2009, during the global financial crisis, the institutes said.Germany has been in virtual lockdown for several weeks. Schools, shops, restaurants, sports facilities..