German GDP Beats Expectations in Q4 2013


German economic growth accelerated to 0.4 percent in the fourth quarter of 2013 up from 0.3 percent in the previous three-month period, supported by a rise in exports and capital investment.

In a quarter-on-quarter comparison (adjusted for price, seasonal and calendar variations), positive contributions were made mainly by foreign trade. According to provisional calculations, the increase in exports of goods and services was substantially higher than that of imports.

As regards domestic demand, different developments were reported. Government final consumption expenditure remained at the level of the previous quarter, while household final consumption expenditure was slightly lower. A positive development was recorded for fixed capital formation, which was markedly up both in machinery and equipment and in construction compared with the third quarter of 2013. However, inventories were considerably reduced, which slowed down economic growth. 

In a year-on-year comparison, economic growth accelerated in the course of the year. The price-adjusted GDP in the fourth quarter of 2013 rose by 1.3 percent, following increases of 1.1 percent in the third quarter of 2013 and of 0.9 percent% in the second quarter of 2013.

German GDP Beats Expectations in Q4 2013


DESTATIS | Joana Taborda | joana.taborda@tradingeconomics.com
2/14/2014 11:16:44 AM