Germany’s Slowdown Weighs on Europe’s Economy as U.S. Surpasses Expect

Europe’s economy experienced modest growth in the April-June quarter, contrasting with the U.S., which surpassed expectations, underscoring a persistent transatlantic growth divide. Germany, Europe’s largest economy, continued to struggle as cautious consumers opted to save rather than invest in new homes or cars.

Preliminary data on Canada’s economic performance for the second quarter will be released on Wednesday.

According to Eurostat, the European Union’s statistics agency, gross domestic product (GDP), representing the total output of goods and services, increased by 0.3% in the second quarter across the 20 countries that use the euro. However, Germany slipped back into contraction, with output falling by o.1%.