German GDP down by 0.1% in Q2 - Breaking The News

German GDP down by 0.1% in Q2

27 August

1 min read

EPA-EFE/HANNIBAL HANSCHKE

Germany's gross domestic product (GDP) adjusted for price, season and calendar declined 0.1% in the second quarter of 2024 compared to the previous three-month period, the country's Federal Statistical Office Destatis said in its final report released on Tuesday. The figure aligned with that from the first estimate.

The document attributed the contraction mostly to a significant decline of gross fixed capital formation. "No positive contributions came from foreign trade either," it was noted in the report.

Year-on-year, the GDP adjusted for price increased by 0.3%. Price and calendar adjusted, the figure remained unchanged compared to the same quarter in 2023.

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