Posted by: youngragingbull | May 24, 2013

Germany GDP rises 0.1% in the first-quarter: FSO

The Federal Statistics Office confirmed Friday a previous estimate of first-quarter GDP growth of 0.1 percent in the Eurozone’s largest economy Germany.

While Germany returned to growth, the economy has stagnated due to declines in construction activity and investment as a severe winter and recession in the broader European market damped demand.

Construction slid 2.1 percent from the fourth quarter and capital investment fell 1.5 percent, the FSO said.

Meanwhile, household spending rose 0.8 percent in the first quarter, while public spending fell 0.1 percent. Exports declined 1.8 percent and imports dropped 2.1 percent.

From a year earlier, the German economy shrank 0.2 percent when adjusted for working days.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


%d bloggers like this: