Slowdown in growth of the German economy
The increase in private consumption in Germany and higher government spending on refugees, more than offset the weakness in foreign trade, helping the biggest European economy to grow moderately, albeit more slowly in the third quarter, according to figures released today.
Employment record levels, increasing salaries and almost constant prices boost household spending in Germany with the cheapest gasoline also allows consumers to spend money on other markets.
At the same time, the number of people arriving in Germany from war zones in the Middle East is at record levels, with the federal government and the states to spend billions of euros for their housing and employment.
The Federal Statistical Office confirmed today prokatarkatikes estimates, according to which the seasonally adjusted gross domestic product (GDP) increased by 0.3% quarter on quarter between July and September, after 0.4% growth in the period April- June.
Private consumption grew by 0.6% in the third quarter, while government spending rose by 1.3% - a figure that represents the largest increase since early 2009.
Overall, domestic demand added 0.7 percentage points to GDP. By contrast, exports rose at a slower pace than imports as weakening demand from China and the emerging markets.
The increase in private consumption in Germany and higher government spending on refugees, more than offset the weakness in foreign trade, helping the biggest European economy to grow moderately, albeit more slowly in the third quarter, according to figures released today.
Employment record levels, increasing salaries and almost constant prices boost household spending in Germany with the cheapest gasoline also allows consumers to spend money on other markets.
At the same time, the number of people arriving in Germany from war zones in the Middle East is at record levels, with the federal government and the states to spend billions of euros for their housing and employment.
The Federal Statistical Office confirmed today prokatarkatikes estimates, according to which the seasonally adjusted gross domestic product (GDP) increased by 0.3% quarter on quarter between July and September, after 0.4% growth in the period April- June.
Private consumption grew by 0.6% in the third quarter, while government spending rose by 1.3% - a figure that represents the largest increase since early 2009.
Overall, domestic demand added 0.7 percentage points to GDP. By contrast, exports rose at a slower pace than imports as weakening demand from China and the emerging markets.
Δεν υπάρχουν σχόλια:
Δημοσίευση σχολίου