- CNTV English - CCTV News

Germany: Q2 GDP up 0.1%, below forecast

08-17-2011 08:48 BJT

Watch Video

Play Video

In the latest hit to the eurozone economy, its strongest member - Germany - faced slowing growth in Q2.

The news has sent the euro and European stocks down; Wall Street futures, too.

It was mainly due to a negative trade balance, weak consumption and stagnant construction investment. According to the nation's statistics office, Germany's GDP climbed just 0.1 percent, an obvious decline compared to Q1's growth rate of 1.3 percent. The drop came as a surprise to markets, as economists had previously predicted a 0.5 percent expansion. The reading was the weakest since the first quarter of 2009.

Oliver Roth, Director of Trade from Close Brothers Seydler AG said, "Well, we are surprised concerning the weak GDP figures of Germany. There were already a couple of investors very much concerned about the economic situation in the world but everybody was expecting that Germany will have a very good year, so we are really deeply surprised and concerned about the German GDP figures, and that is what the market shows."

Editor:Li Wanran |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program