Economic activity in Germany unexpectedly improved during the second quarter, with the growth rate expanding 0.3% from the three-months through March amid expectations for a 0.2% drop in GDP. The rise was led by an increase in public and private sector spending, while falling imports outpaced the slump in foreign demands, and the extraordinary efforts taken on by policymakers may continue to support economic activity going forward as the European Central Bank anticipates growth prospects to improve throughout the second-half of the year. At the same time, GDP contracted at an annual pace of 5.9% versus forecasts for a 6.6% contraction, while the seasonally adjusted figures crossed the wires at -7.1% versus -7.6% expected.
