Germany's economy declined by 0.1% in the second quarter compared to the previous quarter.

Preliminary data released by the German Federal Statistics Office on July 30 local time shows that, after adjusting for prices, seasonality, and working days, Germany's GDP fell by 0.1% in the second quarter of this year. The Federal Statistics Office stated that, following an economic recovery at the beginning of the year, the growth momentum of the German economy has weakened. The German Economic Institute issued a statement on the same day, saying that the new trade agreement reached between the EU and the US on tariffs will further burden the German economy. Casten Brzeski, head of macro research at ING Group, said that if the US imposes a 15% tariff on the EU, it is expected to drag down the German economy by 0.1 to 0.2 percentage points.