Germany's economy shrinks, fuelling fears of a recession - business live

Rolling coverage of the latest economic and financial news, as Germany suffers a 0.1% drop in GDP in April-JuneBreaking: German GDP shrank 0.1% in April-JuneExports have fallen as trade wars biteGermany has only grown by 0.4% over the last...

Germany's economy shrinks, fuelling fears of a recession - business live

Rolling coverage of the latest economic and financial news, as Germany suffers a 0.1% drop in GDP in April-June

Here’s Nadia Gharbi of Pictet Asset Management:

No upside surprise in Germany. Real GDP fell by 0.1% q-o-q in Q2, decelerating from a 0.4% rise in Q1. We don’t have numerical details but destatis mentioned that domestic demand contributed positively to growth, while foreign trade was a drag (1/n) pic.twitter.com/sZoh7KKUyM

Germany is clearly struggling, but it’s not alone.

Last week, we learned that Britain’s economy contracted by 0.2% in the second quarter of this year, as the boost from Brexit stockpiling earlier in the year faded.

German Economy Contracts as #Trade Tensions Take Their Toll - Bloomberg#GERMANY Q2 PRELIMINARY GDP Q/Q: -0.1% V -0.1%E
*Link: https://t.co/ADOz5hVN89 pic.twitter.com/9rqQR4I8cE

Continue reading...