Above all, problems in foreign trade are clouding over the economic situation.
(Photo: dpa)
Berlin The German economy stagnated between April and June. Economic output in the second quarter hardly changed compared to the previous quarter. Rather, the gross domestic product (GDP) shrank minimally, by 0.04 percent, as the Federal Statistical Office announced in a first estimate on Friday.
However, that’s not such bad news. At the same time, the statistical office corrected the growth for the first quarter significantly upwards. If the authority had previously assumed an increase of 0.2 percent, growth has been revised to 0.8 percent.
Oliver Holtemöller, Vice President of the Halle Institute for Economic Research (IWH), says: “It doesn’t look like it at first glance, but the numbers are surprisingly positive.”
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