German economy grew in second quarter, better than feared


Germany’s economy grew slightly in the second quarter, an upgrade from a previous estimate of stagnation, revised official data showed Thursday, pushing back the spectre of recession.

Output expanded by 0.1 percent in the April to June period, according to the federal statistics agency, which had previously projected zero growth.

The economy was propped up by both private and public domestic demand, with spending by the state up by 2.3 percent.

Private spending rose 0.8 percent from the previous quarter as the end of Covid-19 restrictions brought more tourism and restaurant dining.—AFP

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