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15 May 2020updated 06 Oct 2020 9:45am

German economy enters recession after 2.2 per cent slump

By Samuel Horti

The Germany economy has officially entered recession after contracting 2.2 per cent in the first three months of the year – the sharpest quarterly fall since the financial crisis. 

It follows a 0.1 per cent economic contraction in the last three months of 2019, putting Germany in recession, as defined by two consecutive quarters of negative growth.

The figures suggest Germany is faring better than other European countries: France’s economy shrunk 5.8 per cent in the first quarter, while Italy’s contracted by 4.7 per cent.

Experts expect a much sharper contraction in the second quarter of the year.

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