German growth slower, but still strong ahead of election

Wage rises ahead in Germany

The economy is expected to grow 0.6% on quarter in three months to June compared to 0.4% in the first quarter.

He cautioned, however, that the main drivers supporting the domestic economy, such as rising employment, rising wages and increased government spending, could lose some momentum in the coming quarters.

Preliminary GDP data for Germany revealed growth of 0.6% in the June quarter, just shy of market forecasts of 0.7%.

The preliminary estimate showed GDP growth rose by 0.6% between April-June compared with the same period a year ago. An upswing in exports in the period couldn't offset a stronger rise in imports, Destatis data showed, thus reducing trade's contribution to the output expansion. "Germany┬┤s economic success story goes on and on and on", ING Bank analyst Carsten Brzeski said, adding there was very little reason to fear a sudden end to the current performance.


The economy in the 19 countries sharing the euro currency expanded by more than previously forecast in the second quarter compared to the same quarter in 2016, the European Union's statistics office Eurostat said on Wednesday. The Statistics Office will publish its detailed GDP growth data on August 25.

The German economy extended its growth spurt in the second quarter, playing into the hands of Angela Merkel as she bids for a fourth term as chancellor.

The German economy, Europe's traditional growth engine, grew in line with the eurozone's 0.6 per cent average in the quarter.

At 3.30 am ET, Dutch GDP data is due. This was also faster than the expected 1.9 percent. The sequential growth is seen at 0.6% in the second quarter, the same as estimated initially.

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