Economics
Trade-Reliant Germany Suffers Biggest Ever Plunge in Exports
- Foreign sales were down annual 31.1% in April, most since 1950
- Euro-area GDP revised to show 3.6% contraction in 1Q
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German exports plunged at a record pace in April when economies around the world shut down to contain the coronavirus.
Sales abroad were down 31.1% from a year earlier, an unprecedented slump in the series that reaches back to 1950. Imports fell the most since the financial crisis a decade ago.