German economy may shrink by 1pc in 4Q: DIW

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BERLIN: The German economy will likely shrink by 1 percent in the fourth quarter due to a second partial lockdown imposed by the government to halt a sharp rise in coronavirus infections, the DIW economic institute said. The measures in Germany will cost the economy 19 billion euros (17.16 billion pounds) in the fourth quarter, DIW said, adding that the number of people unemployed will rise by around 50,000 compared with the first lockdown in the spring. TLTP