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German institute sees economy shrinking in 2020 due to coronavirus

BERLIN (Reuters) - Germany's IfW Kiel institute expects Europe's biggest economy to contract by 0.1% this year due to the coronavirus before rebounding by 2.3% next year, it said on Thursday.

"We cannot at the moment put a number on the concrete economic effects of the coronavirus," said IfW's Stefan Kooths, adding the forecast was based on much uncertainty and on the assumption that the pandemic would ebb around mid-year.

(Reporting by Madeline Chambers; Editing by Riham Alkousaa)