August 14, 2019 / 6:10 AM / a month ago

German economy contracts as export engine stutters

BERLIN, Aug 14 (Reuters) - The German economy shrank in the second quarter, dragged down by a slump in exports, preliminary data showed on Wednesday, as manufacturers in Europe’s largest economy are hit by weaker foreign demand and trade disputes.

Gross domestic product (GDP) fell 0.1% quarter-on-quarter after a confirmed growth rate of 0.4% in the first three months of the year, the Federal Statistics Office said.

The reading for the April-June period was in line with a Reuters poll of analysts.

The annual growth rate slowed to 0.4% in the second quarter from 0.7% in the previous quarter, calendar-adjusted data showed. This beat the analysts’ poll of +0.1%.

Reporting by Michael Nienaber Editing by Thomas Seythal

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below