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A spokesperson for Germany’s interior ministry on Friday announced that Germany will loosen quarantine restrictions for arriving travellers from the EU, Schengen area and the UK.

Market reaction

Despite the gloomy GDP report from Germany, which showed that the economy is expected to contract by 2.3% annually in the first quarter, Germany’s DAX 30 Index is posting strong daily gains. As of writing, the index was up 1.82% on a daily basis at 10,525.65 points. 

Germany’s Destatis: Q2 forecasts are for around -10% decline in GDP