German economy stagnates in Q2

Economy posted 0% annual growth, according to federal statistical authority

By Gokhan Ergocun

ISTANBUL (AA) - The German economy remained stagnant and posted 0% growth year-on-year in the second quarter, better than expectations of contraction by 0.1%.

At the previous statement from the federal statistical authority, the country's economy had expected to shrink by 0.1%.

On a quarterly basis, the country's GDP narrowed by 0.1% in the April-June period.

“After the slight increase in the previous quarter, the German economy slowed down again in spring,” the head of the statistical office, Ruth Brand, said.

During the last five quarters, Germany posted annual declines in the GDP.

Meanwhile, the IMF has predicted last month that the German economy may increase by 0.2% in 2024, and 1.3% in 2025, after declining by 0.2% in 2023.

Kaynak: