German 3Q Adjusted GDP Up 0.1%, Unchanged From First Estimate

Date : 11/22/2019 @ 7:56AM
Source : Dow Jones News

German 3Q Adjusted GDP Up 0.1%, Unchanged From First Estimate

    By Maria Martinez 
 

Germany's economy grew in the third quarter on the back of consumption, Germany's 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 0.8%.

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.

Before last week's preliminary estimate, a number of economists had expected Germany's 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.

Foreign trade was another driver of economic growth. Destatis on Friday said exports rose 1.0% in the quarter, while imports grew 0.1%.

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%.

German GDP declined 0.2% in the second quarter, after having grown 0.5% in the first quarter.

 

Write to Maria Martinez at maria.martinez@wsj.com

 

(END) Dow Jones Newswires

November 22, 2019 02:41 ET (07:41 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.