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[Report: This summer’s heat wave is expected to cause Germany an estimated 25 billion euros in losses] September 25th, a research report released by Germany’s Allianz Group on the 24th showed that this summer’s heat wave is expected to cause Germany’s economic losses of approximately 25 billion euros. The report said that due to the lack of cooling equipment such as air conditioning, high temperatures have extended employee rest periods and increased absenteeism, leading to a decline in German productivity. Affected by the heat wave, Germany's economic growth this year was reduced by about 0.54 percentage points, and the loss accounted for about 0.53% of the annual GDP.
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