German economy contracts by 0.2% in second quarter

The German economy contracted during the second quarter after imports outpaced exports, data showed.
Europe’s biggest economy shrunk by 0.2 per cent in the three months to the end of June after growing by 0.7 per cent in the first quarter, the Federal Statistics Office said confirming data released earlier this month.
The Wiesbaden-based statistics office pointed to “the extremely mild weather” at the start of the first quarter as one of the reasons for the contraction, but said the economy is “losing momentum,” German news agency (DPA) reported.
German gross domestic product grew by 1.2 per cent in the