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German economy likely to shrink by 1% in Q4 on coronavirus lockdown - DIW

BERLIN, Nov 2 (Reuters) - The German economy will likely shrink by 1% 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 on Monday.

The measures in Germany will cost the economy 19 billion euros ($22.12 billion) 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. ($1 = 0.8589 euros) (Reporting by Riham Alkousaa; Editing by Maria Sheahan)

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