German Q4 GDP Growth Weaker than Expected
The German economy expanded a seasonally-adjusted 0.6 percent on quarter in the three months to December of 2017, after a downwardly revised 0.7 percent growth in the previous period and below market expectations of 0.8 percent, the preliminary estimate showed.
The October-December expansion marked the 14th straight quarter of growth.
Compared with the third quarter, positive contributions to GDP growth came mainly from foreign demand. At the same time, government spending continued to increase while household consumption remained roughly at the previous quarter's level. Gross fixed capital formation in machinery and equipment was slightly up on the previous quarter, while investment in construction was slightly down.
Year-on-year, the economy expanded a calendar-adjusted 2.9 percent
, following a downwardly revised 2.7 percent growth in the previous period. It was the strongest pace of expansion since the third quarter of 2011. Meantime, unadjusted data showed the economy advanced 2.3 percent on the year, following a 2.2 percent expansion in the previous period.
Considering 2017 as a whole, the economy grew by 2.5 percent on a calendar-adjusted basis (vs 1.9 percent in 2016) and by 2.2 percent on a price-adjusted basis (vs 1.9 percent in 2016).
2/14/2018 9:59:50 AM