German Q2 GDP Growth Stronger than Expected
The German economy grew a seasonally-adjusted 0.5 percent on quarter in the three months to June 2018, following an upwardly revised 0.4 percent expansion in the previous period and beating market consensus of 0.3 percent, a preliminary estimate showed.
8/14/2018 11:16:12 AM
Positive contributions to the GDP growth came from domestic demand, mainly boosted by gains in household consumption and government spending. Also, there was a slight increase in fixed capital formation in machinery and equipment, in construction and in other fixed assets. By contrast, net trade contributed negatively to growth as imports rose more than exports.
Year-on-year, the economy expanded a calendar-adjusted 2 percent
in the second quarter, following a 2.2 percent growth in the previous three-month period and slightly below expectations of 2.1 percent. On an unadjusted basis, the GDP rose by 2.3 percent, much stronger than an upwardly revised 1.4 percent advance in the March quarter.