Germany's economy loses momentum, decreases 0.2% in second quarter



We also have more stories about:
(click the phrases to see a list)

Subjects:

Places:

 


BERLIN — Germany's economy contracted by 0.2 percent in the second quarter of 2014, losing momentum after a robust first quarter which was helped by the mild winter.

The Federal Statistics Office said Thursday the figure, which was adjusted for seasonal and calendar factors, reflected that imports grew faster than exports.

The office said that "the balance of exports and imports had a negative effect on the German economic development."

Economists' consensus forecast as of earlier this week was a 0.1 percent contraction.

New growth figures coming out later in the day are expected to show the crisis in Ukraine is weighing on the economy of the 18 countries that use the euro.

All content copyright ©2014 Daily Reporter, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.
Daily Reporter • 22 W. New Road • Greenfield, IN 46140 • (317) 462-5528