Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
BERLIN (AP) — Germany's economy contracted by 0.2 percent in the second quarter of 2014, losing momentum after a robust first quarter which was helped by the mild winter.
The Federal Statistics Office said Thursday the figure, which was adjusted for seasonal and calendar factors, reflected that imports grew faster than exports.
The office said that "the balance of exports and imports had a negative effect on the German economic development."
Economists' consensus forecast as of earlier this week was a 0.1 percent contraction.
New growth figures coming out later in the day are expected to show the crisis in Ukraine is weighing on the economy of the 18 countries that use the euro.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
