Germany's economy shrank less than initially estimated in the second quarter but the pace of contraction was the sharpest on record as the coronavirus pandemic shattered spending, investment and trade, revised data from Destatis revealed Tuesday.
Elsewhere, survey results from the ifo Institute showed that German business confidence improved for the fourth straight month in August.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.