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German GDP Rebounded in Q2, But Lower Than Expected

GERMAN DATA
MNI (London)

GERMANY FLASH Q2 GDP +1.5% Q/Q SA, -9.2% Y/Y WDA

GERMANY Q1 GDP -2.1% Q/Q, -3.1% Y/Y

  • The German economy expanded by 1.5% in Q2, coming below market expectations (BBG: +2.2%).
  • While Apr was characterized by strict restrictions, May and June saw a rapid loosening of restrictions, which provided a boost to business activity.
  • Q1 growth was revised down to -2.1% q/q from -1.8% reported previously.
  • The annual rate surged to 9.2% in Q2, after falling by 3.1% in the previous quarter, reflecting the sharp decline seen in Q2 2020.
  • Compared to Q4 2019, the last quarter before the crisis, GDP is still 3.4% lower in Q2 2021.
  • Destatis noted that Q2's increase was mainly driven by private and government consumption.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

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