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German economy suffers sharpest decline on record

German shoppers in a supermarket

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Reuters

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 German 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.

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