Rolling coverage of the latest economic and financial news, including new growth figures from GermanyBreaking: German GDP shrank 0.1% last quarterExports have fallen as trade wars biteGermany has only grown by 0.4% over the last year 7.27am BST Germany isn´t technically in recession yet -- that would mean two successive quarters of negative growth.But still.... its economy has really struggled over the last year, and has contracted in two of the last four quarters. 7.20am BST Germany´s exporting powerhouse stumbled in the April-June quarter.German exports fell during Q2, Destatis says, which is why the economy shrank by 0.1%.Household final consumption expenditure increased, together with government final consumption expenditure.In addition, more was invested than in the first quarter, however, gross fixed capital formation in construction declined. The development of foreign trade slowed down economic growth because exports recorded a stronger quarter-on-quarter decrease than imports. 7.10am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.Gross domestic product in the 2nd quarter of 2019 down 0.1% on the previous quarter. https://t.co/fsQPJMuMGi #GDP pic.twitter.com/H1RSx7EDYf Related: Global markets rally after US cools trade war with China Related: Trump says he delayed China tariffs as Christmas gift to US shoppers Continue reading...
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