The German economy shrank in the second quarter, dragged down by a slump in exports, data showed on Wednesday, as manufacturers in Europe's largest economy struggle against weaker foreign demand and trade disputes. Gross domestic product (GDP) fell 0.1% quarter-on-quarter after a confirmed growth rate of 0.4% in the first three months of the year, the Federal Statistics Office said. The preliminary reading for April-June was in line with a Reuters poll of analysts. The annual growth rate slowed to 0.4% in the second quarter from 0.7% in the first, calendar-adjusted ...
German economy shrinks in Q2 as exports fall on weak demand, trade disputes
Positive contributions came from domestic demand as household consumption, government expenditure and gross fixed capital formation increased on the quarter