The German economy signed a 0.3 % contract in the second quarter of the year compared to the previous quarter.
The German economy signed a 0.3 % contract in the second quarter of the year compared to the previous quarter. The German Federal Statistical Office (Destatis) has published data of the country's total number of domestic products (GDP). According to data, GDP, without seasonal effects and calendars in Germany, has decreased by 0.3 % in the second quarter of this year compared to the previous quarter. The pioneering data is the economy that will narrow 0.1 % in the second quarter. It is noteworthy that the data is announced more negatively than expected. Therefore, after a growth of 0.3 percent in the first quarter, the German economy was narrowed again. The shrinking in the economy comes from the weakening of the manufacturing and construction industry in tariff tensions between the United States and the European Union (EU). The German economy increased by 0.2 % in the second quarter compared to the same period last year.