German GDP Growth Below Estimates In Q4
The German economy expanded a seasonally-adjusted 0.4 percent in the fourth quarter of 2016, compared to a downwardly revised 0.1 percent expansion in the September quarter but slightly less than market consensus of a 0.5 percent growth, flash estimates showed. Positive contributions came from domestic demand while foreign trade had a downward effect on growth.
2/14/2017 7:54:14 AM
In the three months to December, government final spending rose markedly while household final consumption increased slightly. Also, capital formation showed positive development, driven by an increase in construction investment. Meanwhile, imports was markedly larger than that of exports.
The economic performance in the fourth quarter 2016 was achieved by 43.7 million persons in employment, which was an increase of 267,000, or 0.6 percent from a year earlier.
Year-on-year, the GDP advanced 1.2 percent, following to a 1.5 percent growth in the previous three months and missing expectations of a 1.7 percent expansion.
Considering full 2016, the economy grew by 1.9 percent, the strongest in half a decade.