KONTAN.CO.ID - BERLIN. A slump in exports sent Germany's economy into reverse in the second quarter, data showed, as its manufacturers bore the brunt of a global slowdown amplified by tariff conflicts and uncertainty over Brexit. Gross domestic product (GDP) fell 0.1% quarter-on-quarter, in line with a Reuters poll of analysts, as one observer raised the prospect of a further contraction in the third quarter and the industrial sector urged the government to kick-start growth by issuing more debt. On a calendar-adjusted basis, the annual growth rate slowed to 0.4% in the second quarter from 0.9% in the first, Wednesday's Federal Statistics Office data showed. For 2019 as a whole, the government expects a growth of just 0.5%.
Shrinking German economy on edge of recession as exports stutter
KONTAN.CO.ID - BERLIN. A slump in exports sent Germany's economy into reverse in the second quarter, data showed, as its manufacturers bore the brunt of a global slowdown amplified by tariff conflicts and uncertainty over Brexit. Gross domestic product (GDP) fell 0.1% quarter-on-quarter, in line with a Reuters poll of analysts, as one observer raised the prospect of a further contraction in the third quarter and the industrial sector urged the government to kick-start growth by issuing more debt. On a calendar-adjusted basis, the annual growth rate slowed to 0.4% in the second quarter from 0.9% in the first, Wednesday's Federal Statistics Office data showed. For 2019 as a whole, the government expects a growth of just 0.5%.