Germany: GDP expands by 1.4% (YoY) in Q2 vs. 1.7% expected

• German economy grew at a softer pace than expected in Q2.
• EUR/USD continues to trade in positive territory above 1.0200.

The data published by Germany's Destatis showed on Friday that the German economy grew at an annualized pace of 1.4% in the second quarter following the 3.8% expansion recorded in the first quarter. This reading missed the market expectation of 1.8%.

On a quarterly basis, the German economy stalled with GDP growth coming in at 0%.

Market reaction

These figures don't seem to be having a significant impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was up 0.35% on the day at 1.0232.