German growth slows slightly in second quarter

British Pound May Fall on CPI as Euro Looks Past German GDP Data

German growth slows slightly in second quarter: data

But overall growth was dampened by net foreign trade since exports rose less strongly than imports, which the vibrant domestic economy sucked in at a higher rate. Though a stronger currency shows that confidence is returning to the eurozone economy, it does have the potential to weigh on exporters as it increases the price of their goods in worldwide markets, all other things being equal.

The German economy, Europe's largest, continued its strong performance in the second quarter with gross domestic product growing 0.6 percent over the previous quarter.

He says "Germany's economic success story goes on and on and on". This compared with a consensus forecast of 1.9 percent.

On a yearly basis, GDP growth was revised up slightly to 2.2 percent from 2.1 percent.

Illustrating the trend, Germany's statistics body lifted its quarterly growth estimate for the first quarter to 0.7%, or an annualized pace of 2.9%, from an earlier estimate of 0.6%.

German chancellor Angela Merkel will lead the Christian Democrat party (CDU) into next month's elections have presided over 12 straight quarters of growth.

Germany's statistics body said that "positive impulses" in the second quarter came from domestic demand, as spending by households and the government increased "markedly".

The French economy, the second largest in the eurozone, grew 0.5% in the second quarter, helped by stronger exports according to preliminary data. Preliminary data are due on Wednesday.

The preliminary estimate showed GDP growth rose by 0.6% between April-June compared with the same period past year.

Germany's economy hence lagged behind the US, which expanded at an annualized pace of 2.6% in the same period, but slightly outpaced the 2.3% growth in the 19-country euro currency zone. In the first quarter of 2017, GDP grew by 0.5 percent in both zones.

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