The German economy expanded for the second straight time during the quarter ended June as initially estimated, data from Destatis showed Thursday.
Gross domestic product rose 0.3 percent sequentially in the second quarter, but down from the 0.5 percent growth seen in the previous quarter.
Exports grew at a faster than expected pace of 2.5 percent and imports gained 2.1 percent. Economists had forecast a 1.2 percent rise for exports and 1 percent growth in imports.
Household spending grew 0.4 percent, and government expenditure rose 0.2 percent. This counterbalanced largely the decline in capital formation.
Gross fixed capital formation in construction declined 0.3 percent and investment in machinery and equipment fell 2.3 percent.
The year-over-year comparison revealed that GDP was up 0.5 percent. This, however, was slower than the 1.7 percent gain in the March quarter.
In calendar-adjusted terms, GDP increased 1 percent annually, following a 1.2 percent increase recorded in the first quarter. The statistical office confirmed the second quarter GDP figures.
For comments and feedback: editorial@rttnews.com