Germany's economy contracted unexpectedly in the second quarter largely due to weak investment, while France and Spain fared better than expected and Italy kept growing. Gross domestic product shrank 0.1 percent on a quarterly basis in the second quarter, reversing the first quarter's 0.2 percent expansion, preliminary data from Destatis showed on Tuesday.
The largest euro area economy was expected to log a marginal 0.1 percent growth. On a yearly basis, GDP shrank by calendar-adjusted 0.1 percent, the same pace of fall as reported in the first quarter. At the same time, price-adjusted GDP posted a 0.3 percent rise, following first quarter's 0.8 percent contraction.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.