Tag: German economy

German economy shrinks 5% on virus hit in 2020: official data

The German economy, Europe’s largest, shrank by 5% in the pandemic year 2020, ending a decade of growth as lockdowns wiped out much business and...

Coronavirus second wave douses hopes of German economic recovery

BERLIN: Germany is expected to unveil a strong rebound in GDP for the third quarter on Friday, but relief could be short-lived as the country...

German economy shrinks at record pace in ‘recession of a century’

BERLIN: The German economy contracted at its steepest rate on record in the second quarter as consumer spending, company investment and exports all collapsed during...