Germany Q2 GDP Growth Rate 0%... Growth Stagnation

[Asia Economy New York=Special Correspondent Joselgina] Germany, the largest economy in Europe, recorded economic growth in the second quarter at the 0% level.

The German Federal Statistical Office on the 29th (local time) provisionally estimated that Germany's second-quarter gross domestic product (GDP) growth rate stagnated at 0% compared to the previous quarter. This falls short of the expert forecast of 0.1%. The growth rate in the first quarter was 0.8%.

The Statistical Office explained that the impact was significant due to the energy crisis caused by Russia's invasion of Ukraine, inflation, and supply chain disruptions. The expectation that the global economy will worsen in the second half of the year also acted as a burden. The US economy recorded negative growth in the second quarter.