The German economy expanded 1.6% on quarter in the second quarter of 2021, slightly more than 1.5% in the preliminary estimate, and rebounding from a downwardly revised 2% contraction in the first 3 months of the year, when the country was under restrictive measures due to the coronavirus crisis. An easing of COVID-19 curbs prompted a recovery in private consumption (3.2% vs -5.2% in Q1), public spending (1.8% vs -0.7%) and gross fixed capital formation (0.5% vs -0.7%). However, both exports (0.5% vs 1.4%) and imports (2.1% vs 4.2%) rose at a slower pace. Year-on-year, the economy advanced 9.4%. The German GDP is expected to grow 3.7% this year, although it may miss full-year growth targets due to the coronavirus delta variant, according to the Bundesbank.