German Economy Contracts in Q2
Germany's gross domestic product contracted by a seasonally-adjusted 0.1 percent on quarter in the three months to June 2019, following a 0.4 percent expansion in the previous period and matching market expectations, a preliminary estimate showed.
Net external demand contributed negatively to the GDP as exports fell more than imports. In addition, gross fixed capital formation in construction declined; while positive contributions came mostly from household consumption and government spending.
Year-on-year, the economy expanded by a calendar-adjusted 0.4 percent in the second quarter
, following an upwardly revised 0.9 percent growth in the previous three-month period and beating forecasts of 0.1 percent. On an unadjusted basis, the economy stagnated
, after a 0.8 percent advance in the first quarter.
8/14/2019 7:43:17 AM