German economy enters recession amid corona crisis
Shortpedia
Content Team
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Germany slumped into a recession after facing its steepest quarterly contraction since the 2009 financial crisis. Europe's biggest economy shrinks by 2.2% after the first 3 months of 2020, since shops and businesses were closed in mid-March to fight the outbreak. However, other major economies such as France (5.8%) and Italy (4.7%) are facing the same crisis. Economists warn about a deeper slump in the 2nd quarter.
