The gross domestic product was recorded in Germany Growth of 0.1 percent during the third quarter of this year, a slight decline from previous estimates of growth of 0.2 percent, as announced by the Federal Statistical Office in Germany based on preliminary data.
Household consumption also rose by 0.3 percent on a quarterly basis and government spending rose by 0.4 percent, while investment decreased by 0.2 percent in machinery and equipment, and by 0.3 percent in construction.
The statistics office said that exports of goods and services in the third quarter fell by 1.9 percent on a quarterly basis compared to the second quarter, with exports of goods in particular and significantly declining by 2.4 percent.
Economists polled by Bloomberg had expected Germany’s gross domestic product to shrink this year by 0.1 percent after shrinking last year by 0.3 percent.
Last week, the Council of Economic Elders warned… GermanyOne of the repercussions of the potential trade policy measures that US President-elect Donald Trump may take on the German economy.
The Council of Elders of Economics is an advisory body affiliated with the German Council of Ministers, which includes five senior experts in the field of economics. Its official name is the “Council of Experts for the Evaluation of Comprehensive Economic Development.”
