Germany's gross domestic product grew 2.7% in 2021, compared with the previous year, Germany's statistics office Destatis said Friday. This follows a 4.6% contraction in 2020 due the coronavirus pandemic. "The economic development was highly dependent on Covid-19 infection rates and the associated preventive measures also in 2021," said Georg Thiel, president of Germany's statistics office. Despite further pandemic disruptions, delivery bottlenecks and material shortages, the German economy managed to recover from the sharp fall last year, but economic performance hasn't yet reached pre-crisis levels, Mr. Thiel said. In 2021 GDP was still 2.0% lower than in 2019, the year before the Covid-19 crisis began.

Source: Wall Street Journal January 14, 2022 09:36 UTC