Germany’s economy contracted 5% in 2020 due to COVID-19 By Reuters

BERLIN (Reuters) – The German economy contracted 5.0% less than expected in 2020 as a strong state response helped limit the ravages of the COVID-19 pandemic on Europe’s largest economy , showed preliminary data from the federal statistics office on Thursday. The drop in gross domestic product was less than the Reuters forecast of -5.1% and less severe than the record contraction of -5.7% suffered in 2009 during the global financial crisis.

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