Development: Exports give German economy boost
German gross domestic product increased by 0.4% in the period from October to December.
FRANKFURT:
Growth of the German economy, Europe’s biggest, picked up fractionally at the end of last year, propelled by buoyant exports, official data showed. German gross domestic product (GDP) increased by 0.4% in the period from October to December, slightly faster than analysts’ expectations and also up from growth of 0.3% in the preceding three months, the federal statistics office (Destatis) said. “According to preliminary calculations, exports grew much more strongly than imports. By contrast, the signals from domestic demand were more mixed,” the statisticians said. Public spending stagnated and consumer spending was down slightly, but positive developments were seen in investment. Investment in both construction and equipment was up strongly, but companies also sharply reduced their stockpiles, which placed the brakes on growth,” they added.
Published in The Express Tribune, February 16th, 2014.
Growth of the German economy, Europe’s biggest, picked up fractionally at the end of last year, propelled by buoyant exports, official data showed. German gross domestic product (GDP) increased by 0.4% in the period from October to December, slightly faster than analysts’ expectations and also up from growth of 0.3% in the preceding three months, the federal statistics office (Destatis) said. “According to preliminary calculations, exports grew much more strongly than imports. By contrast, the signals from domestic demand were more mixed,” the statisticians said. Public spending stagnated and consumer spending was down slightly, but positive developments were seen in investment. Investment in both construction and equipment was up strongly, but companies also sharply reduced their stockpiles, which placed the brakes on growth,” they added.
Published in The Express Tribune, February 16th, 2014.