Germany’s economy suffered its worst decline in April ever recorded, according to its official statistics office (Destatis). Even in adjusted terms, the country’s exports plunged 24 percent compared to March, while imports dropped 16.5 percent, another all-time record since monthly stats began in 1990. With car manufacturers shutting down, it’s unsurprising that industrial output was nearly 18 percent off the pace or that industrial orders fell 25.8 percent, yet another all-time record. In money terms, total exports came to €75.7bn (€38.2bn to EU countries), ahead of imports which came in at €72.2bn. Germany limited its coronavirus outbreak to 185,000 cases and sharply lower death count than most other EU member states, so economists will be watching closely to whether this helps it emerge from the recession faster.
