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		</div><p>Germany’s economy took a massive hit during the pandemic shutdowns.<br />
Output shrank by 10.1% during the April-June period from the previous quarter, the country’s official statistics agency said.</p>
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<p>It was the biggest drop since quarterly growth statistics began being compiled in 1970. The plunge far exceeded the previous worst ever recorded performance, a fall of 4.7% in the first quarter of 2009 during the global financial crisis.</p>
<p>Tough pandemic restrictions shut down everything from taverns to car dealerships across the country.<br />
Germany has cautiously reopened and the economy has started bouncing back, but economists say it is far from the pre-virus level.</p>
<blockquote><p>10.1% How much output shrank by during Germany&#8217;s second quarter</p></blockquote>
<p>Economist Carsten Brzeski at the bank ING Germany said the recovery would be “a long ride.”<br />
Mr Brzeski said:</p>
<p>“This picture shows the deepest but also the shortest recession ever. All monthly indicators since May have already pointed to a strong rebound of economic activity in the course of what has been the worst quarterly performance ever.”<br />
The German government has enacted a multibillion-euro stimulus package of emergency loans, credit guarantees and tax breaks to cushion the impact.</p>
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