German GDP grew 0.1 percent in the third quarter of 2014 as compared to a revised 0.1 percent contraction reported from April to June. The meager expansion was mainly driven by an increase in household consumption and exports while investment decreased.
Positive contributions were made mainly by households, which considerably increased their final consumption expenditure. Foreign trade also supported the economy. The increase in exports was higher than that of imports. Consequently, the balance of exports and imports had a slightly positive effect on the GDP in a quarter-on-quarter comparison. By contrast, total gross fixed capital formation decreased, especially in machinery and equipment. Gross fixed capital formation in construction decreased slightly. Also, inventories were markedly reduced.
Year-on-year, the German economy grew 1.2 percent in the third quarter of 2013.
The economic performance was achieved by 42.9 million persons in employment in the domestic territory, which was an increase of 384,000 or 0.9 percent on a year earlier.
11/14/2014 4:22:43 PM