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Friday, 29 March 2024
Monday, 25 May 2020 01:00 pm

Slump in capital investments, exports pushed Germany economy into recession in first quarter

A slump in capital investments, private consumption and exports pushed the German economy into a recession in the first quarter, detailed data showed on Monday, giving a glimpse of the damage caused by the coronavirus pandemic.

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The Federal Statistics Office said capital investments fell by 6.9%, private consumption by 3.2% and exports by 3.1%.

This meant that private consumption took off 1.7 percentage points of overall economic activity and net trade shaved off 0.8 percentage points, leading to a first-quarter contraction of 2.2%.

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Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


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