[ad_1]
Germany’s gross domestic product (GDP) in the second quarter (Q2) this year was unchanged compared with the first quarter after adjustment for price, seasonal and calendar variations. The economy was supported mainly by household and government final consumption expenditure, whereas the balance of exports and imports had a downward effect on economic growth.
The difficult framework conditions in the global economy, including the COVID-19 pandemic, interruptions in supply chains and the war in Ukraine, are clearly reflected in the short-term economic development.
Germany’s gross domestic product (GDP) in the second quarter (Q2) this year was unchanged compared with the first quarter after adjustment for price, seasonal and calendar variations. The economy was supported mainly by household and government final consumption expenditure, whereas the balance of exports and imports had a downward effect on economic growth.
In the first quarter, the German economy had grown by a revised 0.8 per cent.
GDP in Q2 2022 was up a price adjusted 1.5 per cent compared with Q2 2021, when the German economy had been markedly affected by the consequences of the third wave of the pandemic, according to the country’s statistical office.
GDP growth in Q2 2022 was 1.4 per cent year on year after adjustment for price and calendar effects. The GDP in Q2 this year was still 0.2 per cent lower than in Q4 2019, the quarter before the COVID-19 crisis.
Fibre2Fashion News Desk (DS)
[ad_2]
Source link
