Germany's economy expanded at a faster clip than initially projected in the second quarter, with trade helping to sustain the long-awaited recovery momentum. Gross domestic product rose by 0.3% between April and June, exceeding the earlier estimate of 0.2% growth.

Net exports contributed 0.2 percentage points to the expansion, serving as the primary growth driver during the period. Meanwhile, both private consumption and government spending each inched up by 0.1%, but capital investment unexpectedly slipped by 0.2%, according to data released on Tuesday.

Ruth Brand, President of the Federal Statistical Office, noted in a Tuesday press release that the upward trend in the German economy, which began at the start of the year, continues to hold. Just as in the first quarter, the robust export performance has been largely responsible for this growth.