German Q3 GDP Growth Stronger than Estimated
The German economy expanded a seasonally-adjusted 0.8 percent on quarter in the September quarter of 2017, following a 0.6 percent growth in the previous period and beating market expectations of a 0.6 percent expansion, the preliminary estimate showed. Positive contributions mainly came from fixed investment and net trade while household consumption and government spending were stable.
11/14/2017 8:36:18 AM
The July-September expansion marked a 13th consecutive quarter of growth.
Compared to the June quarter, the balance of exports and imports had a positive effect on the GDP. In addition, an increase was seen for gross fixed capital formation, especially in machinery and equipment. Meantime, final consumption expenditure of both households remained rather stable at the previous quarter's level.
Year-on-year, the economy expanded a calendar-adjusted 2.8 percent, following an upwardly revised 2.3 percent growth in the previous period. It was the strongest pace of expansion since the first quarter of 2014. Meantime, unadjusted data showed the economy advanced 2.3 percent on the year, much faster than a 1.0 percent expansion in the previous period.