A host of economic indicators from the U.S. didn’t reveal any surprises, but were shocking nonetheless
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The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to national and global response, the work place and the spread of the virus.
TEUTONIC SHIFT: Germany — Europe’s biggest economy — drifted into a recession in the first quarter as shutdowns there and beyond started to bite. The 2.2% decline in the first three months of the year was the second-biggest quarterly decline since Germany was reunited in 1990, exceeded only by a 4.7% drop in the first quarter of 2009 at the height of the global financial crisis.
FACTORIES RUNNING: China factory output rose 3.9% in April from a year earlier, an improvement over the previous…
Source news reuters.com, click here to read the full news.