• GDP (non-seasonally adjusted) -0.6% vs -0.6% y/y prelim
  • GDP (seasonally adjusted) -0.2% vs -0.2% y/y prelim

No changes to the initial estimates as the German economy is seen stagnating in Q2. Given what we're seeing with the numbers so far until August, it is safe to say that we are already in recession territory now stretching to year-end.