German economy rebounds in 2nd quarter but short of forecast

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BERLIN (AP) — Germany’s economy grew by 1.5% in the second quarter compared with the previous three-month period. It picked up after a sharp first-quarter fall but less strongly than expected. The figure released Friday by the Federal Statistical Office fell short of the 2% gain economists had forecast. The first-quarter decline was sharper than previously reported. There was a 2.1% drop in gross domestic product and not the 1.8% reported in May. Second-quarter GDP was 9.6% higher than a year earlier. Last year’s second quarter saw the strong initial impact of the coronavirus pandemic on Europe’s biggest economy.

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