In the second quarter of 2022, the volume of the German economy did not change compared to January-March, preliminary data from the German Federal Statistical Agency (Destatis) showed.

In annual terms, German GDP, adjusted for the number of working days, rose by 1.4%.

Analysts on average expected the first indicator to rise by 0.1% and the second by 1.7%, according to Trading Economics.

In the first quarter, GDP grew by 0.2% qoq and increased by 3.8% yoy.

The volume of the German economy is still 0.2% lower than in the fourth quarter of 2019 – that is, in the last quarter before the onset of the coronavirus pandemic, Destatis reported.

Destatis will publish final data on the dynamics of the country’s economy in the second quarter on August 25.