German GDP Growth Accelerates in Q1

German economy advanced 0.8 percent in the first three months of 2014 driven by domestic consumption. It is the fastest expansion since the first quarter of 2011, doubling the growth rate of the previous quarter.

According to provisional calculations, in a quarter-on-quarter basis (adjusted for price, seasonal and calendar variations), positive contributions were made only by domestic demand as households and general government increased their consumption. On the other side, foreign trade had a downward effect on expansion as imports growth were faster than exports.

Capital formation also showed a positive development. Fixed capital formation in construction, machinery and equipment was markedly up. 

In a year-on-year basis, the price-adjusted GDP rose 2.5 percent, the largest icrease in over two years.

German GDP Growth Accelerates in Q1

DESTATIS | Joana Taborda |
5/15/2014 9:31:38 AM