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German growth slows slightly in second quarter: data

The German economy grew by 0.6 percent in the second quarter, slightly slower than expected as exports cooled, official data showed Tuesday.

The provisional figure, adjusted for price, seasonal and calendar effects, was lower than the 0.7 percent forecast by analysts surveyed by Factset.

“The German economy continues to grow,” the federal statistics office Destatis said in a statement, noting that the expansion in the April-June period was powered by strong domestic demand.

“The development of foreign trade, however, had a downward effect on growth because the price-adjusted quarter-on-quarter increase in imports was considerably larger than that of exports.”

Destatis also revised upwards its first-quarter figure, saying gross domestic product (GDP) expanded by 0.7 percent in the first three months of 2017 compared to the previous quarter, instead of the initially reported 0.6 percent.