German economy rebounds in 2nd quarter but short of forecast

FILE - In this Oct. 30, 2007 file photo, employees are silhouetted at the Boehringer Ingelheim pharmaceutical factory in Ingelheim, central Germany. Official data shows that Germany’s unemployment rate dipped to 5.6% in July. Such a decline is unusual for the summer month and shows that Europe’s biggest economy is recovering from the COVID-19 pandemic. (AP Photo/Michael Pobst, file)

July 30, 2021, 4:17 PM·1 min read

BERLIN (AP) — Germany's economy grew by 1.5% in the second quarter compared with the previous three-month period, picking up after a sharp first-quarter fall but less strongly than expected.

The figure released Friday by the Federal Statistical Office fell short of the 2% gain economists had forecast. In addition, the first-quarter decline was sharper than previously reported — a 2.1% drop in gross domestic product, rather than the 1.8% reported in May.

Second-quarter GDP was 9.6% higher than a year earlier. Last year's second quarter saw the strong initial impact of the coronavirus pandemic on the German economy, Europe's biggest.

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German economy rebounds in 2nd quarter but short of forecast

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