18 July 2005, 15:11  Germany's second-quarter GDP growth to have been flat quarter-on-quarter

Germany's second-quarter GDP growth is likely to have been flat quarter-on-quarter, the Bundesbank said in its July monthly report. German GDP growth in the second quarter has remained "approximately at the same level as the first quarter," the report said It said "domestic demand would have helped this time" in supporting growth, while the balance of trade is estimated to have had "a negative contribution to GDP growth" in the second quarter It said investments in machinery and manufacturing plants would have risen in real terms, while private consumer spending in the second quarter is expected to have been flat quarter-on-quarter It said inventories have significantly increased, in line with the increase in imports during the quarter under review "The external trade therefore also seems to have made a negative contribution to growth of GDP compared to early this year," it said

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