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.