BREAKING: GDP from Germany lower than expected 🔴

07:00 AM BST, Germany - GDP data:

• German GDP (Q2): actual -0.3% QoQ; forecast -0.1% QoQ; previous 0.3% QoQ;
• German GDP (Q2): actual 0.2% YoY; forecast 0.4% YoY; previous 0.3% YoY;

Germany’s Q2 GDP was revised lower, showing a quarterly decline of 0.2% (non-seasonally adjusted) and a 0.0% year-on-year increase, weaker than initial estimates. Both manufacturing and construction underperformed in June. Consumer spending rose modestly (+0.3% quarterly), but private consumption barely increased (+0.1%), softer than the flash report suggested. While past data points to a subdued Q2, early Q3 business activity shows some positive signals, though looming US tariffs, particularly on autos, could weigh on growth in the months ahead.