Germany's economy grew 0.3% QoQ in Q2, revised up from a preliminary 0.2%; GDP
rose 1.0% YoY, the Federal Statistical Office said. Exports remained the chief
growth engine: goods and services exports rose 2.0% QoQ while imports increased
1.5% QoQ. The upward revision reflected stronger-than-expected wholesale and
retail trade. June exports were up 3.7% YoY, led by chemicals, electronics,
optical products and transport equipment. Domestic investment was uneven: gross
fixed capital formation fell 0.2% QoQ, machinery and equipment investment
dropped 1.4%, and construction rose only 0.1%. Household and government
consumption each increased 0.1% QoQ, underscoring limited domestic demand
contribute to the recovery.
