[ARIRANG NEWS] German economy contracts by 5% in 2020 | South Korea News – KoreaAgain

[ARIRANG NEWS] German economy contracts by 5% in 2020 | South Korea News – KoreaAgain

독일 경제 지난해 5% 역성장…2009년 금융위기 이후 최대타격

Germany’s economy contracted by 5 percent during 2020,.. due to a pandemic-driven downturn.
That’s the least severe recession in Europe.
But it marks the worst contraction for Germany,… since the 2-thousand-8 financial crisis.
The country saw the worst quarterly drop in GDP during the first wave.
It recorded a plunge of 9-point-eight percent between April and June,… due to a national lockdown.
The economy recovered in the third quarter,… on the back of a stimulus package and a partial re-opening of the economy.
But it showed another slowdown in recent months,… due to the virus’ resurgence.

#Germany #economy #recession

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2021-01-15, 07:00 (KST)

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