German GDP Growth Steady in Q4
The German economy advanced a seasonally-adjusted 0.3 percent in the fourth quarter of 2015, the same pace as in the previous quarter and in line with market expectations. Positive contributions mainly came from domestic demand while foreign trade had a downward effect on growth, preliminary estimates showed.
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In the fourth quarter, general government final consumption expenditure was markedly up while household final consumption expenditure rose slightly again. A positive development was also observed for capital formation, especially in construction. The development of foreign trade had a downward effect on growth because exports fell more than imports.
Year-on-year, the GDP expanded 2.1 percent, following a downwardly revised 1.7 percent expansion in the September quarter.
The economic performance in the fourth quarter of 2015 was achieved by 43.4 million persons in employment, which was an increase of 412,000, or 1.0 percent on a year earlier.
For full year of 2015, the economy grew by 1.7 percent, as compared to a 1.6 percent expansion in a year earlier.