The German economy remained flat in the second quarter, showing 0% year-on-year growth, which was better than the anticipated 0.1% contraction. The federal statistical authority had earlier projected a 0.1% shrinkage in the economy.
On a quarterly basis, Germany’s GDP decreased by 0.1% between April and June.
Ruth Brand, the head of the statistical office, noted, “Following a slight increase in the previous quarter, the German economy slowed down again in the spring.”
Germany has recorded annual GDP declines in the last five quarters.
The IMF recently forecasted that after a 0.2% decline in 2023, the German economy may grow by 0.2% in 2024 and 1.3% in 2025.
