German GDP surges in second quarter

German GDP grew 2.2% in the second quarter, the largest gain in more than 20 years.

Driven by a surge in investment and exports, the preliminary quarter-on-quarter reading was well above economist expectations. The Reuters consensus forecasted just a 1.3% expansion. Germany's first quarter growth was also revised up to 0.5%, after being previously reported at 0.2%. Year-on-year, the economy grew by 4.1% in the second quarter, official data showed. This followed a revised 2.1% expansion in the January to March period and beat expectations for a 2.4% expansion year-on-year. GDP figures for the entire eurozone is expected later today, with economists forecasting grow...