German GDP growth revised upwards, defying Iran war turmoil
22 Articles
22 Articles
Germany's economy grew by 0.3 percent in the second quarter from the previous three months, the Federal Statistical Office said in a final report on Tuesday. Preliminary data from the end of July had predicted growth of 0.2 percent.
The first European economy seems to have better absorbed the energy shock caused by the conflict between Iran and the United States and the closure of the Strait of Ormuz thanks in particular to exports
Despite the Iran war, the German economy grew more strongly than previously assumed, but the government deficit increased significantly. Expenditure exceeded revenue by 71.3 billion euros.
The differences are not huge, but at least: From April to June there was more growth than previously assumed. Drought and low water, however, did not affect until later in the summer.
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