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German GDP Shrinks by 2.2% in The First Quarter as Coronavirus Lockdown Weighs

Friday, 15 May 2020 15:27 WIB Ekonomi Jerman German Prelim GDP German Prelim GDP q/q

German GDP (gross domestic product) shrank by 2.2% in the first quarter compared to the final three months of 2019, official statistics revealed Friday. The contraction, fueled by the early stages of nationwide lockdowns implemented in March to curtail the coronavirus pandemic, was in line with analyst expectations. Germany began easing its lockdown restrictions in late April, having experienced a considerably lower death rate than other major European countries. According to the Robert Koch Institute for Disease Control, the transmission rate for the coronavirus remained below the key threshold of 1 in Germany following initial easing of lockdown measures. As of Friday morning, Germany...

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