The German economy shrank more than initially estimated in the second quarter, the latest data from Destatis revealed on Friday.
Gross domestic product fell 0.3 percent sequentially, reversing a 0.3 percent growth in the first quarter. In the flash estimate, the economy showed a contraction of 0.1 percent.
The expenditure breakdown showed that gross fixed capital formation declined 1.4 percent compared to the prior quarter amid a 1.9 percent fall in investments in machinery and equipment. Foreign trade was also not favorable, as exports were down 0.1 percent, while there was a 1.6 percent increase in imports.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.