Germany likely in recession now – Crypto News – Crypto News
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German ZEW Economic Sentiment Index drops to -14.7 in July vs. -10.0 expected German ZEW Economic Sentiment Index drops to -14.7 in July vs. -10.0 expected

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Germany likely in recession now – Crypto News

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In its monthly report published on Monday, Germany’s Bundesbank said that Germany is likely in recession now, citing weak external demand, muted consumption and cautious investments.

“There is still no recovery for the German economy,” the publication read. “Output could decline again slightly in the first quarter of 2024. With the second consecutive decline in economic output, the German economy would be in a technical recession.”

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EUR/USD pair showed no immediate reaction and was last seen trading modestly higher on the day at 1.0780.

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