Germany's economy experienced a steeper contraction in the second quarter than initially anticipated, as indicated by the latest statistics released by the statistical department on Friday. The Gross Domestic Product (GDP) declined by 0.3% quarter-on-quarter, contrasting with an initial forecast of a 0.1% decrease. This downturn was driven by underwhelming performance in the manufacturing sector and a significant 1.4% decline in investments. Additionally, private consumption's supportive role in bolstering GDP fell well short of early projections.
