According to the federal statistics office, there was no quarter-on-quarter change in gross domestic product in seasonally adjusted terms. A Reuters poll of analysts had forecast an increase of 0.1%, after the economy fell into a mild recession in winter.French and Spanish
One positive note was the stabilisation of German household consumption in the second quarter after the weak winter half-year, according to the statistics office. But Habeck rejected calls for an economic stimulus package. "Whoever distributes money with a watering can in times of high inflation only brings one thing to growth: inflation."
"We continue to see the German economy being stuck in the twilight zone between stagnation and recession," said Carsten Brzeski, global head of macro at ING.
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