Germany's economy declined slightly in the second quarter
In the second quarter, investments in equipment and construction notably decreased, as reported by the statistical office. Compared to the second quarter of 2023, the GDP thus increased by 0.3 percent adjusted for inflation - but adjusted for price and calendar effects, it actually decreased by 0.1 percent, due to the second quarter of 2024 having one more working day.
Despite the decrease in investments, Germany still managed to narrow its GDP growth gap with other European nations in the second quarter. The strong export sector, primarily driven by German manufacturers, contributed to maintaining the country's economic stability during this period.
