Open Demo Account
Home / Market Update / Stronger-Than-Expected Recovery For Germany’s Economy in The Second Quarter Thanks to Consumers And Government Spending

Stronger-Than-Expected Recovery For Germany’s Economy in The Second Quarter Thanks to Consumers And Government Spending

Adel 24 August, 2021 12:28 pm Market Update

The German Federal Statistics Office said in a revision of an earlier estimate that private consumption and government spending led to a stronger-than-expected economic recovery in Germany in the second quarter, following the easing of anti-Covid-19 restrictions.

The bureau added that gross domestic product grew 1.6% in the April-June quarter, after adjusting for the price, seasonal, and calendar effects, slightly above its previous estimate of 1.5% growth.

Germany’s economy contracted by 1.8% on a quarterly basis in the first quarter of 2021 due to COVID-19 restrictions.

Tags

Check Also

Oil Prices Edge Higher Amid Cooling Inflation and Supply Resumptions

Oil prices began the week on a positive note, bolstered by data showing cooling U.S. …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends