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German economy shrinks by 0.2% in second quarter

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(Globalpost/GlobalPost)

The German economy, Europe's biggest, contracted by 0.2 percent in the second quarter amid weak exports and falling investment, the federal statistics office Destatis said Thursday.

According to a flash estimate, German gross domestic product (GDP) shrank by 0.2 percent in the period from April to June, following growth of 0.7 percent in the preceding three months.

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