Economic Buzz: German Economy Stagnates In Q2

29 Jul 2022 , 03:40 PM

The German economy stagnated in the second quarter as growth in household and government spending was offset by the weaker foreign trade. Gross domestic product remained flat in the second quarter, following a revised growth of 0.8 percent in the preceding quarter, Destatis reported. Price-adjusted GDP grew 1.5 percent from the second quarter of 2021, when the German economy had been markedly affected by the consequences of the third wave of the Covid-19 pandemic. This was followed by a 3.9 percent expansion in the first quarter. On a calendar-adjusted basis, GDP grew 1.4 percent, much weaker than the 3.6 percent growth logged in the previous quarter. Powered by Commodity Insights