Stepped-up consumer spending and investment lifted growth in Germany, the biggest EU economy, in the third quarter to 0.5 percent, according to official data Thursday confirming earlier estimates. Gross domestic product rose 0.5 percent in the third quarter, following a 0.3-percent expansion in the second quarter, the federal statistics office Destatis said in a statement. "There was more consumption but also more investment than in the previous quarter," it said. The data confirmed that Germany outperformed its neighbours during the three months ending September 30. However economists see signs of a looming slowdown in the fourth quarter as the eurozone debt crisis takes a toll. In the retail sector, traditionally a weak link in Germany's economy, household spending grew 0.8 percent while public sector spending rose 0.6 percent. Investment in equipment -- mainly machines and vehicles -- surged 2.9 percent but fell 0.7 percent in the building sector, Destatis. said. Meanwhile exports, normally the backbone of the European powerhouse, did little to boost growth as they increased 2.5 percent, at a slightly lower clip than imports at 2.6 percent. In a year-on-year comparison using seasonally adjusted data, German growth hit a robust 2.6 percent in the third quarter, Destatis said.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:06 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 16:17 2018 Monday ,12 November
Egypt working on 4-year plan to increase growth rateGMT 12:45 2018 Friday ,09 November
Egyptian agriculture products introduced to Japanese markeGMT 11:42 2018 Friday ,02 November
Turkey's new mega airport, boon for slowing economyGMT 13:42 2018 Monday ,29 October
Egypt's trade volume hits $67.63 bln over 9 monthsGMT 15:13 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 14:46 2018 Thursday ,11 October
Economy and energy dominate agenda in Russian-Slovak relationsMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor