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Daily Memo: Germany’s Economy Contracts for Second Consecutive Quarter
Business confidence also fell in the past month.
Recession. Germany’s economy has slipped into a technical recession, after contracting 0.3 percent in the first quarter, according to figures published Thursday by federal statistics agency Destatis, which revised its initial estimate of zero percent. It was the second consecutive quarterly decline in gross domestic product. The main catalyst for the contraction was a drop […]