“The German economic mini-miracle is on hold”, says Olaf Storbeck on Breakingviews. After four quarters of growth, GDP slipped by 0.2% in the three months to the end of June.
The tepid global recovery is one problem. First-half exports rose by just 2.4%, compared to an expected 4%, says Wirtschaftswoche. Only the US and the UK are growing strongly.
In the eurozone, Germany’s main export market, Italy and France are dragging down growth.
The stand-off with Russia is also a concern. Germany has closer economic ties to Russia than many of its major counterparts. So [...]