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German GDP grows less than expected in Q4 2016

Staff Writer | February 14, 2017
The German economy grew less than expected in the fourth quarter, according to data released by Destatis.
German economy   Gross domestic product rose 0.4%
Gross domestic product rose 0.4% on the previous quarter on a seasonally-adjusted basis, missing economists' expectations of 0.5% growth.

Growth was driven by a pickup in domestic demand, as government spending rose significantly from the third quarter, while construction investments were also strong.

Net trade was a drag however, as imports grew more than exports.For 2016 as a whole, the growth rate was confirmed at 1.9%, marking the strongest rate in half a decade.