German exports and investment spending plunged in the first quarter, dragging Europe’s largest economy into its deepest economic slump on record.
Exports were down 9.7 percent from the fourth quarter and company investment declined 7.9 percent, according to the Federal Statistics Office. The Office reported that gross domestic product fell a seasonally adjusted 3.8 percent from the previous three months, confirming an initial estimate from May 15. That’s the largest drop since...
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