Germany's GDP contracted by 5% in 2020 | Money Talks

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Germany has suffered its deepest economic contraction in more than a decade with GDP shrinking 5-percent in 2020, as the pandemic hit Europe's largest economy. While official preliminary figures show last year's nationwide lockdowns hit Germany's retail and hospitality sectors hard, they also had an impact on the country's sizeable manufacturing industry. But despite ongoing uncertainties from the pandemic, there are reasons for optimism in 2021. Miranda Lin explains. For more on this Bruno Verstraete joins us now from Zurich. He's Partner and Chief Economist at Lakefield Partners AG. #Germany #CoronavirusCases #StimulusPackage

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