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- German economy likely to shrink by 1% in fourth-quarter - DIW
German economy likely to shrink by 1% in fourth-quarter - DIW
Reuters reports that the DIW economic institute said the German economy will likely shrink by 1% in the fourth quarter due to a second partial lockdown imposed by the government to halt a sharp rise in coronavirus infections.
The measures in Germany will cost the economy 19 billion euros in the fourth quarter, DIW said, adding that the number of people unemployed will rise by around 50,000 compared with the first lockdown in the spring.
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