German GDP Slows to 0.3% in Q3
In the third quarter of 2013, German economy expanded a seasonally adjusted 0.3 percent from the previous period. Domestic demand fueled the growth, while net exports had a downward effect.
11/14/2013 8:14:57 AM
Positive contributions were made only by domestic demand. Final consumption expenditure of households and of government was somewhat higher than in the previous quarter. Also, there was an increase in gross fixed capital formation both in machinery and equipment and in construction.
The balance of exports and imports had a downward effect on GDP growth. While imports continued to increase, exports were less dynamic when compared with the previous quarter.
In the second quarter of 2013, German economy grew 0.7 percent, following a stagnation in the first three months of the year.
On a year-on-year basis GDP increased 1.1 percent in the third quarter of 2013.