BBC: German economy sees deepest decline on record
The German economy shrank at its fastest rate on record amid the impact of the coronavirus pandemic, according to new official figures.
The total production of goods and services declined by 10.1% during the April-to-June period.
It was the sharpest decline since Germany began producing quarterly growth figures in 1970.
The contraction followed a smaller but still severe drop in activity of 2% in the previous three months.
The German economy, in common with most others, has been hit very hard by the pandemic and the restrictions that have been imposed in an effort to contain it.
Read more ....
WNU Editor: The media is focused on the collapse of the US economy. But the U.S. is not alone. Every major economy has been damaged.
Update: A lot of Germans are not happy .... Thousands protest in Berlin against coronavirus restrictions (AP).
More News On The German Economy
German economy shrinks at record pace in 'recession of a century' -- Reuters
Germany economic collapse: Nearly 10 YEARS of growth wiped out in nightmare for Merkel -- Express
Germany's Economy Suffers Biggest Quarterly Drop On Record -- NPR
Germany's economy can't count on bouncing back fast -- DW
Great time to pull the rest of our troops out. :)
ReplyDeleteEvery country is hit by the crisis, okay. The most important is how fast the recovery will be. I strongly believe that America has the best capability for that. It will not be easy, of course, but the winner is the one which recover faster than the other one.
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