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14.01.2021 17:21

Germany’s economy contracted by 5% in 2020 as coronavirus lockdowns hit growth

CNBC reports that data released on Thursday showed that Germany’s economy contracted by 5% in 2020, according to full-year GDP.

The preliminary figures, which were slightly better than the 5.1% forecast, come after a year of economic turbulence for Germany, and the rest of the world, as the coronavirus pandemic prompted disruption to businesses and large swathes of the economy.

Coronavirus cases have prompted several lockdowns on public life and economic activity in Germany. Chancellor Angela Merkel announced last week that the latest lockdown would be extended until the end of the month.


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00