Investment in equipment and construction declined in Germany in the second quarter. Photo: Kirill KUDRYAVTSEV / AFP/FileSource: AFPThe German economy unexpectedly shrank in the second quarter, preliminary data showed Tuesday, falling further behind as a recovery takes hold elsewhere across the eurozone. "The German economy is stuck in crisis," said Klaus Wohlrabe, head of surveys at Ifo economic institute, citing persistent weakness in manufacturing and sluggish private consumption. The comparison with other eurozone heavyweights was stark on Tuesday, with the French economy rising by a more-than-expected 0.3 percent in the second quarter. Overall, output in the 20-nation eurozone expanded 0.3 percent over the second quarter, more than the 0.2 percent expected by analysts.

Source: Daily Nation July 31, 2024 00:54 UTC