German quarterly GDP contracts 0.1pc, second slip in 4 quarters
GERMAN GDP decreased 0
GERMAN GDP decreased 0.1 per cent in the second quarter, contracting two of the last four quarters, reported Bloomberg.
All results were lower than forecast by economists in a Bloomberg survey.
The contraction in Europe's largest economy was reflected in most of the euro zone, including France and Spain. Italy is teetering on the verge of recession, and profit warnings from some of the bloc's biggest companies suggest little sign of a turnaround.
In Germany, sentiment among executives and investors has plunged, suggesting a government forecast for growth of 0.5 per cent this year, the weakest since 2013, might still be too optimistic.
Second quarter output was dampened by trade, with exports falling faster than imports. Private consumption and government spending were higher than in the previous three months.