German GDP down 0.1%; Bronfman drops Paramount bid
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Germany’s economic outlook has worsened as GDP was confirmed to have fallen in the second quarter and consumer sentiment slumped, according to figures published on Tuesday.
GDP fell by 0.1% in the second quarter, confirming the previous estimate, said Destatis, the federal statistics office. GDP in the first quarter of 2024 was up 0.2% on the previous quarter, unrevised from the last reading.
Meanwhile job concerns weighed on German consumer sentiment. GfK’s closely followed index fell to -22…