| 14.9°C Dublin

Blow to German economy

Weak investment spending and slow trade led Germany's economy to contract for the first time in over a year in the second quarter, new figures showed, suggesting Europe's largest economy is running out of steam just as the impact of the crisis in Ukraine starts to bite.

Germany's Federal Statistics Office confirmed an earlier estimate showing a 0.2pc contraction in seasonally-adjusted gross domestic product (GDP) on the quarter. Germany was once considered the last bastion of growth in a sickly eurozone.