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8/24/2021, 8:01 AM (Source: TeleTrader)
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German economy expands by 1.6% in Q2

Germany's economy expanded by better-than-expected 1.6% in the second quarter of 2021 compared to the previous trimester, according to the final report published by the Federal Statistical Office on Tuesday.

Compared to the same quarter of 2020, the German gross domestic product increased by 9.4%. While the report noted that the country's economy recovered in the second quarter, it also said that the economic output was still 3.3% lower compared to the fourth quarter of 2019, before the coronavirus pandemic started.

Both consumer spending and foreign trade increased compared to the first quarter of the year, while at the same time, the decline in employment figures was halted.

Baha Breaking the News (BBN) / ND