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13 May 2015
German economic growth slowed in the first quarter
FXStreet (Mumbai) - As per the data released by the Federal Statistical Office (Destatis), the German economy expanded 0.3% quarter-n-quarter after adjustment for price, seasonal and calendar variation, which is lower than the expected 0.5% growth rate. In the last quarter of 2014, a marked increase of 0.7% was recorded.
Positive contributions mainly came from domestic demand, however, foreign trade had a downward effect on the economic growth. According to provisional calculations, exports of goods and services were slightly up at the beginning of 2015 compared with the fourth quarter of 2014, imports recorded a much stronger increase.
Year-on-year, the GDP rose 1.1% in the first quarter of 2015 (+1.0% after calendar adjustment).
Positive contributions mainly came from domestic demand, however, foreign trade had a downward effect on the economic growth. According to provisional calculations, exports of goods and services were slightly up at the beginning of 2015 compared with the fourth quarter of 2014, imports recorded a much stronger increase.
Year-on-year, the GDP rose 1.1% in the first quarter of 2015 (+1.0% after calendar adjustment).