BERLIN: The German economy contracted by 10.1% in the second quarter, its steepest plunge on record, as household spending, business investment and exports collapsed during the COVID-19 pandemic, preliminary data showed on Thursday.
The statistics office said the plunge was the sharpest since 1970 and was worse than the 9% contraction predicted by economists in a Reuters poll. It wiped out nearly 10 years of economic growth.
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