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Gross domestic product: detailed results for the 1st quarter of 2020
The corona pandemic has hit the German economy hard. As the Federal Statistical Office (Destatis) reported in its press conference and first release of 15 May 2020, the gross domestic product (GDP) was down by 2.2% on the 4th quarter of 2019 upon price, seasonal and calendar adjustment. That was the largest decrease since the global financial and economic crisis of 2008/2009 and the second largest decrease since German unification. A larger quarter-on-quarter decline was recorded only for the 1st quarter of 2009 (-4.7%). Although the spread of the novel coronavirus did not have a major effect on the economic ... (full story)