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2025-07-31 01:43:40
German Economy Declines 0.1% Quarter-on-Quarter in Second Quarter: Preliminary data released by the Federal Statistical Office of Germany on July 30th local time showed that, after adjusting for prices, seasons, and working days, Germany's GDP fell 0.1% quarter-on-quarter in the second quarter of this year. The Federal Statistical Office stated that following the economic recovery at the beginning of the year, the momentum of German economic growth has weakened. The German Institute for Economic Research issued a statement the same day stating that the new trade agreement recently reached between the EU and the US on tariffs will further increase the burden on the German economy. Carsten Brzeski, head of macro research at ING Group, stated that if the US imposes a 15% tariff on the EU, it is expected to drag down the German economy by 0.1 to 0.2 percentage points. (CCTV News)
