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German economy at risk due to coronavirus – central bank

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 The coronavirus outbreak in China poses a risk for the German economy, Germany’s central bank said on Monday, pointing to a drop in demand from China.


“A temporary decline in the aggregate demand in China may dampen German export activity,’’ its experts wrote in the Bundesbank’s monthly report for February.

The world’s second-largest economy is a key market for goods made in Germany.

At the same time, China manufactures numerous products, also for further processing in other countries.

The safety precautions that have been introduced due to the coronavirus could affect some global value chains, leading to supply bottlenecks in individual sectors in Germany, the monthly report said.

Following a weak end to 2019, the central bank does not expect any radical economic changes in Germany during the first quarter of this year.

The German economy slipped into a lull in 2019, after booming for years due, in part, to international trade conflicts, which affected above all the country’s export-oriented industrial sector.

Edited By: Halima Sheji/Abdulfatah Babatunde



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Sheji Halima: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng