Germany has beaten the forecast for growth in the second quarter, revealing its economy has not slowed as much as feared

 
Mark Sands
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A live Galapagos tortoise marches in its
"Well yes, the tortoise is slow. But is it as slow as you expected?" (Source: Getty)

Germany has beaten forecasts for economic growth, reporting second quarter figures that show the economy slowing, but not as much as predicted.


CMC Markets was among the firms predicting growth of 0.2 per cent, down from 0.7 per cent in the first three months of 2016.

However, figures from the German Federal Statistics Office have revealed Germany's economy actually expanded by 0.4 per cent – or double the forecast.

What's more, the unadjusted figures showed the economy expanded by 3.1 per cent on the year in the second quarter - Germany's strongest three month period of growth in five years.

Read More: FTSE 100 soars to 14-month high as pound falls further against the euro


The EU's largest economy was boosted by higher exports and strong state spending and private consumption, which helped to compensate for weaker investment in construction and machinery for the three months to the end of June.

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