German economy shrinks by record 10.1% in Q2 on virus hit
Analysts had expected a slightly smaller contraction
30 July, 16:40Federal statistics agency Destatis called the quarter-on-quarter decline in gross domestic product "historic" and far bigger than any slump seen during the 2008-2009 financial crisis. Economy Minister Peter Altmaier had warned earlier this year that the pandemic would push Europe's top economy into "the worst recession" in its postwar history, ending a decade of growth.
Analysts had expected a slightly smaller contraction of around nine percent for the April-June period.(ANSA-AFP)- (ANSA).