This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-37056800
The article has changed 6 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| German economy slows in second quarter | |
| (35 minutes later) | |
| Germany's economic growth slowed in the second quarter, albeit less markedly than had been expected. | Germany's economic growth slowed in the second quarter, albeit less markedly than had been expected. |
| Europe's largest economy expanded by 0.4% between April and June, down from 0.7% in the first quarter, but above forecasts of 0.2% growth. | Europe's largest economy expanded by 0.4% between April and June, down from 0.7% in the first quarter, but above forecasts of 0.2% growth. |
| Exports and consumer spending were stronger than forecast but investment in construction and machinery slowed. | Exports and consumer spending were stronger than forecast but investment in construction and machinery slowed. |
| Second estimates for GDP across the eurozone between April and June are due out later on Friday. | Second estimates for GDP across the eurozone between April and June are due out later on Friday. |
| They are expected to confirm that the bloc expanded by 0.3%, and across the wider European Union, by 0.4%. | They are expected to confirm that the bloc expanded by 0.3%, and across the wider European Union, by 0.4%. |
| Carsten Brzeski, economist at ING-DiBa, warned that investment must increase to support growth. | Carsten Brzeski, economist at ING-DiBa, warned that investment must increase to support growth. |
| However, he said, it could be hampered by ``increased uncertainties after the Brexit vote, continued structural weaknesses in many Eurozone countries and a renewed global slowdown''. | However, he said, it could be hampered by ``increased uncertainties after the Brexit vote, continued structural weaknesses in many Eurozone countries and a renewed global slowdown''. |
| Oil prices | Oil prices |
| New data also revealed that inflation rose in July, up by 0.4%, fuelled by rising food and services prices. | New data also revealed that inflation rose in July, up by 0.4%, fuelled by rising food and services prices. |
| Inflation was tempered by the falling cost of energy and clothing. Destatis, Germany's statistics office, said stripping out energy, inflation would have been 1.3% in July. | Inflation was tempered by the falling cost of energy and clothing. Destatis, Germany's statistics office, said stripping out energy, inflation would have been 1.3% in July. |
| Since then, oil prices have risen and on Thursday jumped 4% after Saudi Arabia's energy minister Khalid al-Falih said Opec, the cartel of oil producing nations, would hold talks about stabilising prices at a meeting next month. | Since then, oil prices have risen and on Thursday jumped 4% after Saudi Arabia's energy minister Khalid al-Falih said Opec, the cartel of oil producing nations, would hold talks about stabilising prices at a meeting next month. |
| Prices were also buoyed by an International Energy Agency report which said it expected supply and demand balance to tighten towards the end of the year. | Prices were also buoyed by an International Energy Agency report which said it expected supply and demand balance to tighten towards the end of the year. |