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Economy

German GDP Up 0.7% in Second Quarter

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

German flag

Germany’s gross domestic product (GDP) rose 0.7% in the second quarter. Since the European Union’s largest economy relies heavily on trade within the region, the numbers are another sign of a modest recovery there. It is very likely that the figures are also an indication that the United States and China have at least held their own in terms of demand for German products and services.

According to the nation’s official figures:

Following a weak start into the year, the German economy is gaining momentum. The Federal Statistical Office (Destatis) reports that, compared with the previous quarter, the gross domestic product (GDP) increased by 0.7% in the second quarter of 2013 after adjustment for price, seasonal and calendar variations. According to the most recent calculations, the German economy had stagnated in the first quarter of 2013, following a 0.5% decrease of the GDP in the last quarter of 2012.

Based on more recent data from countries within the EU, Germany’s recovery is likely to accelerate. The news also will give a boost to the reelection hopes of Angela Merkel.

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Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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