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.

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