Germany continues moderate growth, GDP up 0.3%Staff writer ▼ | November 27, 2015
The German economy has shown continued moderate growth. As the Federal Statistical Office (Destatis) reported, the gross domestic product (GDP) increased 0.3% - upon price, seasonal and calendar adjustment - in the third quarter of 2015 compared with the previous quarter.
Destatis Positive contributions for Germany economy
When adjusted for price, seasonal and calendar variations, positive contributions were made mainly by domestic final consumption expenditure in the third quarter of 2015. Both household final consumption expenditure (+0.6%) and government final consumption expenditure (+1.3%) rose considerably.
By contrast, gross fixed capital formation (total) decreased slightly: Gross fixed capital formation in machinery and equipment was down 0.8% on the previous quarter, in construction it fell by 0.3%. Foreign trade, too, had a downward effect on German economic growth.
Based on provisional calculations, exports of goods and services increased by just 0.2% (price, seasonally and calendar-adjusted) compared with the second quarter.
The increase in imports was much larger (+1.1%). Consequently, the balance of exports and imports had a negative effect on the gross domestic product growth (–0.4 percentage points). ■