German economy grew faster than expected in Q2

German economy grew faster than expected in Q2 — — -Brussels (Brussels Morning) The German Federal Statistical Office (Destatis) noted on Tuesday that the country’s Gross Domestic Product (GDP) grew faster than expected in the second quarter of the year, largely because of the lifting of restrictions to control the coronavirus pandemic.

The reopening spurred Germans to dip into their savings accumulated in the winter lockdown, while the government continued its large loan-financed stimulus push, according to Reuters reporting on Tuesday.