As reported by Germany's Federal Statistical Office (Destatis), the German economy has continued to grow in the second quarter. In this period, the country's price, season and calendar adjusted gross domestic product (GDP) increased by 0.4 percent compared to the previous year, following a year-on-year growth rate of 0.3 percent in the first quarter this year.
According to the statement, in the second quarter positive contributions were made mainly by the balance of exports and imports. German exports increased more than imports due to the weak euro. The main quarter-on-quarter increase in Germany’s exports was seen in exports of goods
Meanwhile, economic growth accelerated on year-on-year basis. The price-adjucted GDP was up by 1.6 percent in the second quarter of this year, following 1.2 percent growth recorded in the previous quarter.