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German economy contracts as export engine stutters


Wednesday, 14 August 2019 13:24 WIB

PDB EropaGDPGerman Prelim GDP


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The German economy shrank in the second quarter, dragged down by a slump in exports, preliminary data showed on Wednesday, as manufacturers in Europe's largest economy are hit by 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 reading for the April-June period 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 previous quarter, calendar-adjusted data showed. This beat the analysts' poll of +0.1%.

Source : Investing.com


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