Germany\u2019s economy grew in the third quarter on the back of consumption, Germany\u2019s Federal Statistical Office said Friday, confirming a preliminary estimate.<\/p>\n
The quarter-on-quarter comparison shows that positive contributions in the quarter mainly came from household and government consumption, Destatis said. Household final consumption edged 0.4% higher on the quarter and government consumption rose 0.8%.<\/p>\n
As previously reported, gross domestic product–the broadest measure of goods and services produced in an economy–increased an adjusted 0.1% from the previous quarter. GDP grew 0.5% on year in the third quarter on a calendar and price-adjusted basis, Destatis said, confirming the first estimate. In a year-on-year comparison, it was also consumption that supported the economy.<\/p>\n
Before last week\u2019s preliminary estimate, a number of economists had expected Germany\u2019s economy to slip into a technical recession. Recent indicators sent mixed signals on growth, with improvements in manufacturing orders but weak data on industrial production.<\/p>\n
Foreign trade was another driver of economic growth. Destatis on Friday said exports rose 1.0% in the quarter, while imports grew 0.1%.<\/p>\n
Gross fixed capital formation went up 1.2% in the construction sector in comparison with the previous quarter, while decreasing in machinery and equipment 2.6%.<\/p>\n
German GDP declined 0.2% in the second quarter, after having grown 0.5% in the first quarter.<\/p>\n<\/p><\/div>\n
[ad_2]
<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Germany\u2019s economy grew in the third quarter on the back of consumption, Germany\u2019s Federal Statistical Office said Friday, confirming a preliminary estimate. The quarter-on-quarter comparison shows that positive contributions in the quarter mainly came from household and government consumption, Destatis said. Household final consumption edged 0.4% higher on the quarter and government consumption rose […]<\/p>\n","protected":false},"author":348,"featured_media":1432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1431"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1432"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}