German Economy, Europe’s Largest, Shrinks by 0.1 Percent

The German economy—Europe’s largest—shrank by 0.1 percent in the second quarter of 2024 compared with the previous three-month period, the nation’s statistics office reported on Tuesday. “After the slight increase in the previous quarter, the German economy cooled down again in spring,” statistics office president Ruth Brand said in a statement. The main reason for this “cooling” was the drop investment in manufacturing and construction, with investment in machinery, equipment and vehicles fell by 4.1 percent, while construction investment dropped by 2.0 percent. According to the German foreign ministry, international trade also faltered, with goods and services exports falling by 0.2 percent in the second quarter, alongside stagnant levels of imports....