Germany's GDP hit a six-year low dragged down by exports

SMM News: the German Bureau of Statistics released preliminary gross domestic product (GDP),) data on August 14, showing a year-on-year increase in GDP without quarterly adjustment, while the previous forecast range of 40 economists ranges from 0.2 per cent to 0.2 per cent.

(German GDP growth rate)

The data show that Germany did not adjust the quarterly GDP annual rate of 0 in the second quarter, the previous value of 0.6%, expected-0.3%; Germany after the second quarter of the GDP quarterly rate of initial value of-0.1%, the previous value of 0.4%, expected-0.1%.

Germany's non-quarterly GDP annualised rate in the second quarter was the lowest since May 2013, and construction spending shrank despite an increase in German investment in the second quarter.

Some analysts said that the German economy fell in the second quarter, mainly dragged down by exports. The country's manufacturers have been hit by weak foreign demand and exports have fallen faster than imports.

After the data, the yield on German 10-year bonds fell to a record low of-0.623 per cent.

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