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Germany in recession as economy shrinks 2.2% in 1st quarter

May 15, 2020

Via: ABC News

BERLIN — The German economy shrank by 2.2% in the first quarter compared with the previous three-month period as shutdowns in the country and beyond started to bite, official data showed Friday. That means Europe’s biggest economy went into recession following a small dip at the end of last year.

The figures from the Federal Statistical Office offered a first glimpse of the damage caused by the coronavirus crisis to Europe’s biggest economy, which the government is trying to limit with a raft of rescue programs.

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