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German Consumers Deliver Strong Growth in Q2

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The German economy extended its growth spurt in the second quarter, playing into the hands of Angela Merkel as she bids for a fourth term as chancellor.

Gross domestic product in Europe’s largest economy rose by 0.6 percent in the April-June period. While that’s below the 0.7 percent estimate in a Bloomberg survey of economists, the Federal Statistics Office revised first-quarter output up to 0.7 percent.

The euro extended its decline after the report and traded at $1.1756 at 8:32 a.m. Frankfurt time, down 0.2 percent.

Bloomberg

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Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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