India, Aug. 22 -- The German economy shrank more than initially estimated in the second quarter, the latest data from Destatis revealed on Friday.
Gross domestic product fell 0.3 percent sequentially, reversing a 0.3 percent growth in the first quarter. In the flash estimate, the economy showed a contraction of 0.1 percent.
The expenditure breakdown showed that gross fixed capital formation declined 1.4 percent compared to the prior quarter amid a 1.9 percent fall in investments in machinery and equipment. Foreign trade was also not favorable, as exports were down 0.1 percent, while there was a 1.6 percent increase in imports.
Household consumption rose only 0.1 percent, and government consumption was 0.8 percent higher.
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