The German Economy will stagnate in the first quarter, according to Economist

The German Economy will stagnate in the first quarter, according to Economist

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BERLIN, Jan 25- Germany’s economy is set to stagnate in the first quarter of the year, Ifo economist Klaus Wohlrabe said on Monday, a further sign of the havoc that lockdown is wreaking on Europe’s largest economy.

“The German economy is starting the year with little confidence,” Wohlrabe said, adding that delays in COVID-19 vaccine deliveries are increasing uncertainty.

German business confidence fell more than expected in January as the second wave of COVID-19 slowed the country’s economic recovery, a survey showed Monday.

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