Saturday , 10 December 2016
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German economic growth rises slightly in Q3

Berlin : The German economic growth rose slightly in the third quarter of 2016, official data showed on Tuesday.

Germany’s gross domestic product (GDP) increased by 0.2 per cent quarter on quarter, Xinhua news agency quoted German federal statistics office Destatis as saying.

In the second quarter, the economy expanded by 0.4 per cent, following a growth of 0.7 per cent in the first quarter.

According to Destatis, the growth between July and September was mainly driven by domestic final consumption expenditure.

However, Destatis noted that economic growth decelerated in a year-on-year comparison. The price-adjusted GDP increased by 1.5 per cent in the third quarter year-on-year. It also increased separately by 1.5 per cent and 3.1 per cent in the first and second quarters this year.

“German economic growth is losing some momentum,” Destatis said.

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