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German Q2 GDP grows, net trade dampens overall expansion

Staff Writer | August 15, 2017
The German economy advanced a seasonally-adjusted 0.6 percent on quarter in the June quarter of 2017, following an upwardly revised 0.7 percent growth in the previous period, flash estimates showed.
German economy advanced
Germany   Positive contributions came from domestic demand
Positive contributions came from domestic demand and investment while net trade dampened an overall expansion.

In the second quarter of 2017, final consumption expenditure of both households and general government increased markedly.

Also, capital formation showed positive development, driven by an increase in machinery and equipment investment, construction and other fixed assets. On the other hand, imports was considerably larger than that of exports.

The economic performance was achieved by 44.2 million persons in employment in the domestic territory, which was an increase of 664,000, or 1.5 percent from a year earlier.

Year-on-year, the GDP grew by 2.1 percent, the most since 2014.