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Germany’s economy contracted by 5% in 2020 as coronavirus lockdowns hit growth

  • Coronavirus cases have prompted several lockdowns on public life and economic activity in Germany.
  • Chancellor Angela Merkel announced last week that the latest lockdown would be extended until the end of the month.

German Chancellor Angela Merkel takes off her face mask as she gives a press conference on the actual situation amid the novel coronavirus / COVID-19 pandemic, following a meeting with her so-called Corona-Cabinet, on November 2, 2020 in Berlin.Kay Nietfeld | AFP | Getty Images

Germany's economy contracted by 5% in 2020, according to full-year GDP (gross domestic product) data released on Thursday.

The preliminary figures, which were slightly better than the 5.1% forecast, come after a year of economic turbulence for Germany, and the rest of the world, as the coronavirus pandemic prompted disruption to businesses and large swathes of the economy.

Coronavirus cases have prompted several lockdowns on public life and economic activity in Germany. Chancellor Angela Merkel announced last week that the latest lockdown would be extended until the end of the month.

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