Germany: Germany economy decelerates in Q1
May 13, 2015
The German economy decelerated in the first quarter of this year, according to preliminary data published by the Federal Statistics Office (Destatis) on 13 May. In Q1, GDP rose a seasonally-adjusted 0.3% over the previous quarter, which came in below Q4’s stronger 0.7% increase and market expectations of a 0.4% gain. Compared to the same quarter last year, GDP increased 1.1% in Q1, which came in below the 1.6% expansion registered in Q4. More detailed data will be released on 22 May.The Bundesbank expects economic activity to increase 1.0% in 2015. For 2016, the Bank sees economic growth picking up to 1.6%. FocusEconomics Consensus forecast panelists expect economic activity to expand 1.9% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel forecasts GDP growth of 1.9%.