Germany’s Economy Minister Urges Swift Reforms After Weak Q2 GDP

Germany’s economy ministry warned that second-quarter gross domestic product data underscore an urgent need for policy action. Economy Minister Reiche said the figures demonstrate that “further and courageous reforms are unavoidable” if Europe’s largest economy is to regain competitiveness. Industry echoed the alarm. The chief executive of Germany’s second-largest steel producer described the business climate as “really bad” and criticized Chancellor Friedrich Merz’s growth agenda as moving too slowly to spur investment and demand. The combined calls from government and heavy industry add pressure on Berlin to accelerate structural reforms aimed at boosting productivity and easing the regulatory burden on manufacturers.