German Economy Jumps To 0.1% Growth In Q2.

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The German economy grew in the second quarter, propped up by household and government spending and beating analyst expectations that saw it on the edge of a downturn.

Europe’s largest economy grew by 0.1% quarter on quarter and 1.7% on the year; adjusted for price and calendar effects, the federal statistics office said.

Analysts polled by Reuters had expected the economy to stagnate quarter on quarter in the three months to June; in line with the statistics office’s earlier flash estimate.

Household expenditures were up by 0.8% compared with the first quarter; despite high inflation rates and an energy crisis, said the office. Government consumption grew by 2.3%.

Analysts said the concerns about the economy remained acute. 

Reuters.

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