: German GDP flat in the second quarter after two periods of declines


The German economy was stagnant in the second quarter after two periods of decline.

The Federal Statistical Office reported zero quarter-on-quarter change, after a 0.1% drop in the first quarter and a 0.4% drop in the fourth quarter of 2022. Most countries outside the U.S. report GDP on a quarterly, and not annualized, basis.

Consumer spending by private households stabilized in the second quarter of 2023 after the weak winter half-year, it said.

Over the last year, the eurozone’s largest economy dropped by 0.6%.

Sentiment is dark for Germany’s economy, with the key Ifo index of business climate sliding in July to an eight-month low.

This article was originally published by Marketwatch.com. Read the original article here.

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