German economy lost growth momentum in Q2: economy ministry
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
People walk through the Mall of Berlin shopping centre during its opening night in Berlin, September 24, 2014. REUTERS/Thomas Peter/File Photo
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
BERLIN (Reuters) - The German economy lost some growth momentum in the second quarter after a strong performance in the first three months of the year, the Economy Ministry said on Thursday, citing weaker private consumption and weaker-than-expected construction.
It added that the German economy remained robust despite increased external risks largely linked to Britain's vote in June to leave the European Union.
"Because of mild weather, construction was much higher than usual in winter," the ministry said in its monthly report. "Therefore the spring upturn was significantly weaker."
The German economy grew by 0.7 percent in the first quarter, driven mainly by increased government spending and rising private consumption.
Preliminary second-quarter growth figures are due to be published on Friday. A Reuters poll of economists predicts that Europe's largest economy expanded by 0.2 percent in the April-June period.
(Reporting by Joseph Nasr; Editing by Michelle Martin)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Novartis CEO plays down prospects for Actelion bid: Blick
- EU blames China for WTO environmental trade talks collapse
- Accused Charleston gunman asks judge to reinstate defense team
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!