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German economy shrank by 0.1% in Q2, statistics office confirms

Published 08/27/2024, 02:15 AM
Updated 08/27/2024, 02:18 AM
© Reuters. People visit the Berlin Art Market by the Zeughaus building, as the dome of the Berlin Cathedral is seen in the background, in Berlin, Germany, May 1, 2023. REUTERS/Fabrizio Bensch/File Photo
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BERLIN (Reuters) -The German economy shrank by 0.1% in the second quarter of 2024 compared with the previous three-month period, the statistics office reported on Tuesday, confirming preliminary data.

"After the slight increase in the previous quarter, the German economy cooled down again in spring," statistics office president Ruth Brand said in a statement.

In the first quarter of 2024, German gross domestic product rose by 0.2% quarter on quarter.

© Reuters. People visit the Berlin Art Market by the Zeughaus building, as the dome of the Berlin Cathedral is seen in the background, in Berlin, Germany, May 1, 2023. REUTERS/Fabrizio Bensch/File Photo

The office revised its year-on-year change for the second quarter in price- and calendar-adjusted terms to 0.0%, up from a previously reported -0.1%.

The office gives a detailed report on the data on its website.

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