Despite the economic headwinds caused by the ongoing Eurozone debt crisis, economic growth remained resilient. In the third quarter, GDP expanded a seasonally and working-day adjusted 0.5% over the previous quarter, which represented an acceleration over the revised 0.3% increase recorded in the April-June period (initially reported: +0.1% quarter-on-quarter) and was in line with market expectations. Compared to the same period last year, the economy grew 2.5%, which was down from the previous quarter's 3.0% expansion. The acceleration reflected stronger domestic demand. Total consumption swung from a 0.3% contraction in the second quarter to a 0.8% expansion in the third quarter, buttressed by resilient private consumption (Q2: -0.6% qoq; Q3: +0.8% qoq). Public spending grew 0.6% in the third quarter, following an expansion of the same magnitude in the second quarter. In addition, gross fixed investment accelerated from a 0.4% increase in the second quarter to a 0.9% expansion in the third. Exports of goods and services expanded 2.5% over the previous quarter (Q2:+2.8% qoq) while imports grew 2.6% (Q2: +2.9% qoq). The external sector's net contribution remained at the 0.1 percentage points recorded in the second quarter.
Economic activity gains steam in Q3
November 24, 2011
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Germany Economic News
October 24, 2016
The Markit Flash Composite Purchasing Managers’ Index (PMI) rose from 52.8 in September to 55.1 in October.
October 10, 2016
The seasonally- and calendar-adjusted trade surplus increased from EUR 19.4 billion in July to EUR 22.2 billion in August, driven up by recovering exports.
October 7, 2016
In August, industrial production rose 2.5% from the previous month in seasonally-adjusted terms, in contrast to July’s large 1.6% drop, which had been the lowest reading in nearly two years.
September 29, 2016
Consumer prices in September rose 0.1% in a month-on-month comparison, according to preliminary data released by the Federal Statistics Office (Destatis) on 29 September.
September 28, 2016
Heading into October, the mood among German consumers weakened slightly but still stayed at a high level.