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Germany Plunges Into Recession With Biggest Slump in Decade

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  • Europe’s largest economy on track for 6.5% contraction in 2020
  • Euro-area employment dropped for first time since 2013
German Company Executives on Uncertainty and Outlook

The German economy shrank 2.2% in the first quarter, the most in more than a decade, offering an early flavor of the damage from the coronavirus outbreak.

Less than two weeks of official lockdown caused slumps in consumer spending and capital investment. Government spending and construction provided some stabilization.