The economies have not participated in the perceived competition for the bleak forecast. The Munich Ifo Institute recently came to the conclusion that the German economy could collapse by more than a fifth this year due to Corona. According to their latest report, it is only a fraction of the worst-case scenario for economic practices.
However, recent history has an impressive counterexample. The global financial crisis in Germany in 2008 and 2009 was actually unexpectedly quick. Immediately afterward even boom years followed. Maybe the economies are right after all.