Bundesbank: German economy showed improved momentum in Q2

Germany's central bank, Bundesbank (Buba) sounded optimistic about the German economic growth for the second quarter of this year, in its monthly economic report published on Monday.

Key Highlights:

“The economy has likely showed better momentum in the spring than at the start of the year.”

“Although it is unlikely that the high growth rates of the past year will be repeated, manufacturing was once again the key economic driving force.”

Household consumption remained a cornerstone of growth while government consumption, which dipped in the early part of the year.

“Last but not least, activity in the booming construction sector likely increased significantly, despite capacity constraints.”