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German retail sales jump for second month in a row
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German retail sales jump, consumers shop less online
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German retail sales jump, consumers shop less online
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Germany s economy expands less than expected in second quarter
07/30/2021 8:30
BERLIN (Reuters) - The German economy returned to growth in the second quarter but bounced back less strongly than expected amid supply chain bottlenecks that are hitting industry, data showed on Friday.
Europe s largest economy grew by 1.5% quarter on quarter, compared with a revised contraction of 2.1% in the first quarter, and by 9.2% on the year, the Federal Statistics Office said. A Reuters poll had forecast increases of 2.0% and 9.6% respectively.
Compared with the fourth quarter of 2019, the last pre-pandemic period, gross domestic product (GDP) was still down 3.4%, the Statistics Office said. Growth is decent, but it could have been stronger if it wasn t for shortages of materials, VP Bank Group Chief Economist Thomas Gitzel said.
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A view shows Chempark following an explosion in Leverkusen, Germany, July 27, 2021. REUTERS/Leon Kuegeler
The operator of a German industrial park that was rocked by an explosion on Tuesday (27 July) dampened hopes of finding more survivors in the debris and warned residents near the site to stay away from soot that rained down after the blast
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write Tom Kaeckenhoff and Maria Sheahan, Reuters.
Two people were found dead after the explosion at the Chempark site, home to chemicals companies including Bayer (
LXSG.DE), and 31 were injured.Advertisement
Five are still missing, Currenta chief Frank Hyldmar told journalists on Wednesday, adding that we have to assume that we will not find them alive .