
Germanys economy posts its largest decline since 1970 with GDP shrinking 10% in Q2
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Germany’s economy saw a sharp 10% drop in the second quarter of 2020, the worst quarterly GDP contraction since records began in 1970.
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Germany’s record decline reflected the impact of an economic plunge across areas including trade, consumer spending, and investment.
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Unemployment remains a concern with jobs in the country’s major airlines and automotive sectors at high risk.
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Fears are growing over an expected COVID-19 second wave with an influx of tourists and reopening of businesses.
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