German economy beats expectations with 0.1% growth in Q2

2022.08.25 09:42

FILE PHOTO: A container ship leaves the port in Hamburg, Germany March 11, 2020. REUTERS/Fabian Bimmer

BERLIN (Reuters) – The German economy grew in the second quarter, beating analyst expectations, supported by private and government spending despite the energy crisis, data showed on Thursday.

Europe’s largest economy grew by 0.1% quarter on quarter and 1.7% on the year, adjusted for price and calendar effects, the federal statistics office said.

Analysts polled by Reuters had expected the economy to stagnate in the second quarter on quarter.

“Despite difficult …conditions in the global economy, the German economy held its ground in the first two quarters of 2022,” said Georg Thiel, president of the statistics office.

Source