The Federal Statistics Office announced on Wednesday that Germany's largely export-driven economy recorded its biggest-ever decline since World War II last year. The country also breached the EU's deficit limit.
The extent of the damage felt in Germany by the global financial crisis was revealed on Wednesday with the release of new economic figures by the Federal Statistics Office.
"As an export-dependent nation, Germany was particularly affected by the financial crisis," commented Federal Statistics Office President Roderich Egeler. "With a GDP drop of five percent, the country is relatively far behind other nations."
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German economy records biggest slump in post-war history