DelhiDesk officially announced that the country’s economy has shrunk by 2.2% in the first quarter of 2020, marking the second consecutive quarter of contraction. The COVID-19 pandemic and subsequent lockdown measures have severely impacted Germany’s economy, with declines seen in exports, investments, and private consumption. The German government has implemented various measures, including stimulus packages and loan guarantees, to support businesses and individuals during this challenging time.
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👉 Germany’s economy has officially entered into recession.
👉 It is the world’s fourth largest economy and Europe’s largest economy.
👉 Germany’s Statistics Office has reported a decline in GDP for two consecutive quarters.
👉 The COVID-19 pandemic has significantly impacted the German economy, with reduced exports and domestic demand.
👉 The German government has implemented various measures to support businesses and individuals during the crisis.
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