The German economy expanded as initially estimated in the third quarter, a detailed report released by the Destatis showed Tuesday.
Gross domestic product gained 0.1 percent from a quarter ago, offsetting the 0.1 percent fall in the second quarter.
Positive contributions came mainly from household spending and foreign trade. Household spending rose 0.7 percent and government expenditure advanced 0.6 percent in the third quarter.
Exports of goods and services were up 1.9 percent. The increase in exports was higher than that of imports. Imports were up 1.7 percent. As a result, the balance of trade had a slight upward effect on GDP.
By contrast, capital formation declined 3.6 percent especially due to a 2.3 percent fall in gross capital formation in machinery and equipment. In construction, investment fell 0.3 percent. Also, inventories were reduced which slowed the gross domestic product growth.
On a yearly basis, calendar-adjusted GDP grew 1.2 percent in the third quarter, slower than the 1.4 percent growth seen a quarter ago. Likewise, GDP, adjusted for price variation, grew 1.2 percent after expanding 1 percent in the second quarter. The annual figures matched preliminary estimate published on November 14.
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