German Q2 preliminary GDP slows more than expected

Reuters

BERLIN (Reuters) - German gross domestic product growth slowed more than expected in the second quarter, dropping to 0.1 percent in seasonally adjusted terms from a revised 1.3 percent in the first three months of the year, data showed.

The unadjusted preliminary data from the Federal Statistics Office released on Tuesday also showed that growth eased to 2.8 percent compared to the same quarter a year earlier, after 5.0 percent in the first three months of the year.

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The figures compared to Reuters consensus forecasts for a 0.5 percent expansion in quarterly terms and a 3.2 percent rise year-on-year. Quarterly growth was at its lowest since it posted a negative reading in the first quarter 2009.

Quarterly growth had been initially reported at 1.5 percent for the first quarter. The statistics office said that data dating back to 1991 had been revised as part of a wide-reaching revision conducted every five years.

(Reporting by Brian Rohan)

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