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BERLIN The number of foreigners who obtained German nationality last year fell by 15% to 109,900, and half the decline was due to fewer British nationals…
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Summer boom beckons for German economy after winter COVID blues
By Michael Nienaber and Rene Wagner
Reuters
BERLIN (Reuters) - German business morale brightened to hit a two-year high in May as COVID-19 curbs were eased and infections fell, heralding a swift summer recovery after the economy shrank more than expected in the first quarter.
With many firms reporting a build-up of supply bottlenecks, Tuesday s Ifo business climate index readout showed a jump to 99.2, up from April s revised 96.6 and beating the 98.2 forecast in a Reuters poll of analysts. The German economy is picking up speed, Ifo President Clemens Fuest said.
German economy hit harder than expected by COVID crisis
Europe s biggest economy contracted by 1.8% in the first three months of this year compared with the previous quarter. The coronavirus pandemic has been a major factor slowing growth.
International trade has started picking up despite the economic slump
Germany s gross domestic product (GDP) shrank slightly more than expected in the period from January to March this year, contracting by 1.8%, the Federal Statistics Office (Destatis) said on Tuesday.
In April, Destatis had estimated a 1.7% slump.
The fall can largely be attributed to the effects of the coronavirus pandemic and the measures taken to stem its spread.