- Tobias Blattner, an economist at Daiwa Markets International
German economy expanded at a faster pace than economists forecast in the second quarter, helped by strong exports and household spending. Gross domestic product increased by 0.3 per cent from the prior quarter, Federal Statistics Office data showed on Tuesday.
"Germany's economy is very export-dependent," said Tobias Blattner, an economist at Daiwa Markets International in London. "When things are going well, that's its strength; when they don't it's the Achilles heel. We'll be lucky if we have flat growth for the rest of the year."
European stocks edged lower on Monday as Japan's economic growth slowed.
The Stoxx Europe 600 Index declined 0.43 per cent to 268.72. Germany's DAX Index fell 0.50 per cent and France's CAC 40 Index lost 0.27 per cent.
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