BERLIN (Reuters) – Orders for German industrial goods fell 25.8% in April, suffering their biggest drop since records began in 1991, data showed on Friday, as the coronavirus slashed domestic and foreign demand for goods from Europe’s biggest economy.

Figures from the Federal Statistics Office showed that domestic orders dropped 22.3% while orders from abroad were down 28.1%. Analysts polled by Reuters had expected a 19.7% fall in orders overall.

“In view of the gradual easing (in restrictions against the coronavirus), however, the low point of the industrial recession should now have been passed,” the Economy Ministry said in a statement.

Germany is facing its deepest recession since World War Two even though a lockdown that had shuttered shops, businesses and factories is now being eased.

A survey by economic institute Ifo published earlier on Friday showed half of companies in Germany postponed investments in May while 28% cancelled investment projects completely as the coronavirus pandemic takes its toll.

“These are worrying figures for the long-term development of the economy,” said Klaus Wohlrabe, Ifo’s head of surveys.

Chancellor Angela Merkel’s government has tried to mitigate the impact of the crisis with a range of steps, including a 130 billion euro ($147.77 billion) stimulus package agreed on Wednesday to speed up Germany’s recovery from the coronavirus pandemic.

Economy Minister Peter Altmaier said on Thursday it would be the biggest economic package since the federal republic of Germany was founded in 1949.

“The economy has not yet bottomed out,” he added. “In the coming weeks and months we will experience difficult moments together. There is light at the end of the tunnel.”

Altmaier said he was aiming for a return to growth in the second half of this year, and for the economy to regain pre-crisis levels “in the second half of 2022 at the latest.”

($1 = 0.8797 euros)

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