Germany's DAX Rises 0.6% as Q2 GDP Hits 0.2% and July Inflation Reaches 2.8%
Updated
Updated · Finimize · Jul 30
Germany's DAX Rises 0.6% as Q2 GDP Hits 0.2% and July Inflation Reaches 2.8%
3 articles · Updated · Finimize · Jul 30
Summary
Germany's DAX closed up 0.6% after data showed the economy grew 0.2% in the second quarter, beating forecasts for 0.1%.
That upside was tempered by July inflation accelerating to 2.8% from 2.3%, even as core inflation eased to 2.4%, keeping energy costs at the center of the outlook.
ING said Germany's near-term path remains highly dependent on oil, gas and shipping risks tied to the Middle East, which could lift consumer prices and manufacturers' costs.
Stock moves reflected that uneven backdrop: adidas sank 11.5% despite 13% sales growth to €6.74 billion after profit missed expectations, while Symrise gained after reaffirming its outlook.
The mix of modest growth and faster headline inflation suggests the DAX may react more to energy and freight shocks than to small economic beats.