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Germany has no growth in the three months to June

Germany has no growth in the three months to June

By City & Finance Reporter

Updated:

Germany registered no growth in the three months to June, heightening fears for the eurozone’s largest economy.

Gross domestic product was unchanged in the second quarter, federal statistics show, meaning it technically came out of the winter recession.

Going nowhere: Gross domestic product remained unchanged in the second quarter, federal statistics show, meaning it’s technically come out of the winter recession

That represented an improvement compared to a decline of 0.1 percent in the first quarter and a contraction of 0.4 percent in the fourth quarter of last year.

The International Monetary Fund has just downgraded its forecasts for the German economy and now expects it to contract by 0.3 percent in 2023.

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