The German economy slowed in the second quarter, according to figures released on Friday, with the war, pandemic, and supply disruptions pushing Europe’s greatest economy to the brink of collapse.
According to the federal statistics office, GDP was constant in adjusted terms from quarter to quarter. A Reuters survey of economists predicted 0.1 percent growth.
However, the economy performed better than expected in the first quarter, with the office raising growth to 0.8 percent from 0.2 percent.
According to the office, household and government consumption helped strengthen the economy from April to June, while the trade balance held it back.
‘The severe framework conditions in the global economy, including the COVID-19 epidemic, supply chain disruptions, and the crisis in Ukraine, are clearly reflected in short-term economic progress,’ the office stated in a statement.
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