The German economy grew faster than initially anticipated in the second quarter, and trade helped the economy maintain its long-awaited recovery momentum. The gross domestic product grew by 0.3% from April to June, which was higher than the previous estimate of 0.2%. Net exports grew by 0.2%, which was the main driving force for economic growth. The statistics department said on Tuesday that private consumption and government spending both increased by 0.1%, while capital investment unexpectedly fell by 0.2%. Ruth Brand, head of the German Federal Statistical Office, said in a press release on Tuesday, “The German economy has continued to grow since the beginning of the year. As in the first quarter, growth was mainly due to strong export performance.”

The German economy grew faster than initially anticipated in the second quarter, and trade helped the economy maintain its long-awaited recovery momentum. The gross domestic product grew by 0.3% from April to June, which was higher than the previous estimate of 0.2%. Net exports grew by 0.2%, which was the main driving force for economic growth. The statistics department said on Tuesday that private consumption and government spending both increased by 0.1%, while capital investment unexpectedly fell by 0.2%. Ruth Brand, head of the German Federal Statistical Office, said in a press release on Tuesday, “The German economy has continued to grow since the beginning of the year. As in the first quarter, growth was mainly due to strong export performance.”