German weakness gives ECB carte blanche to be bold swahapattanaik
German GDP fell 0.1% in the second quarter compared with the previous three months, after a confirmed growth rate of 0.4% in the first three months of the year, the Federal Statistical Office said on Aug. 14.
“The development of foreign trade slowed down economic growth because exports recorded a stronger quarter-on-quarter decrease than imports,” the statistics office said. Positive contributions came from domestic demand as household consumption, government expenditure and gross fixed capital formation increased. Construction declined in the second quarter, after the sector pushed up overall growth in the first three months due to an unusually mild winter.
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