The German economy picked up more steam than expected inside the second quarter, driven by higher household as well as state spending, data showed on Tuesday, suggesting of which Europe’s biggest economy can be powering ahead despite trade-related business uncertainties.
Gross domestic product expanded by 0.5 percent quarter-on-quarter, the Federal Statistics Office said. of which compared that has a Reuters forecast of 0.4 percent.
The office also revised up the quarterly growth rate for the first three months of the year to 0.4 percent by 0.3 percent.
“Despite all of the prophecies of doom, the upswing can be not only alive; This specific’s also kicking,” Bankhaus Lampe economist Alexander Krueger said.
“For the time being, the upswing can be unlikely to be stalled by the global trade dispute or overheating,” Krueger said. nevertheless he added of which the conflict with the United States over tariffs was clouding the outlook for the second half of the year.