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German, French, euro zone data below par

Friday, August 14, 2015 - 01:14

German growth accelerated in the second quarter, but by less than expected, while France's economy came to a standstill, amid concerns about China. Kirsty Basset reports.

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German growth was less than expected in the second quarter of 2015. The economy grew 0.4 per cent between April and June, but that was below expectations for a half a per cent expansion. And with the economy dependent on exports, the impact of China's yuan devaluation is being closely watched. Hauck and Aufhaeuser's Fidel Helmer. (SOUNDBITE) (German) HEAD TRADER AT HAUCK & AUFHAEUSER, FIDEL HELMER, SAYING: "China is a very important trading partner for us, but we have worldwide exports and not only in China. Even so, we have to be really careful with what happens further in China." Meanwhile Europe's second largest economy France came to an unexpected standstill. A jump in exports in the second quarter wasn't able to offset the impact of weak consumer spending and inventory changes. Also below expectations - the euro zone economy as a whole grew by 0.3 per cent, below expectations of 0.4 per cent expansion. The economic update came a day after minutes of the European Central Bank 's showed concern that recent volatility in China may have more impact on the euro zone, than expected.

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German, French, euro zone data below par

Friday, August 14, 2015 - 01:14