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German Economy |
From the 1948 currency reform until the early 1970s, West Germany experienced almost continuous economic expansion, but real GDP growth slowed and even declined from the mid-1970s through the recession of the early 1980s. The economy then experienced eight consecutive years of growth that ended with a downturn beginning in late 1992. Since reunification in 1990, Germany has seen annual average real growth of only about 1.5% and stubbornly high unemployment . The best performance since reunification was registered in 2000, when real growth reached 3.0%. |
Currency
The unit of currency in Germany is the Euro €. Germany started using the euro on January 1, 2002.
Two Euros
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