Germany's economy grew by 1.6 percent in the second quarter

Data from Germany's Federal Statistical Office (Destatis) announced that the country's economy grew by 1.6 percent in the second quarter of the year, driven by household and government spending.

Compared to the same quarter of the previous year, Germany's economy grew by 9.4 percent.

Expectations were that the German economy would grow by 1.5 percent compared to the previous quarter and by 9.2 percent compared to the same quarter of the previous year.

The country's economy grew by 1.5 percent in the previous quarter and by 9.2 percent in the same quarter of the previous year.

In the report, it was stated that both consumer expenditures and foreign trade increased in the second quarter compared to the first quarter of the year, while the decline in employment figures was also halted.