State spending, investments drive German Q2 growth

State spending, investments and private consumption drove German economic growth between April and June, detailed data showed on Friday, confirming a preliminary reading of a 0.5 percent expansion in the second quarter.

The Federal Statistics Office said exports rose by 0.7 percent on the quarter and imports edged up by 1.7 percent, which resulted in net trade deducting 0.4 percentage points from growth.

State spending rose twice as much as household consumption, the data showed.