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5/25, 8:00 AM (Source: TeleTrader)
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German GDP down by 1.8% in Q1

Germany’s gross domestic product (GDP) adjusted for price, season and calendar was down 1.8% in the first quarter of 2021 versus the prior three-month period, the country's statistical office Destatis reported on Tuesday. Year-over-year, it decreased 3.1%.

The report said that household final consumption expenditure fell sharply. Trade surplus slid as imports of goods and services grew more than the increase in exports. Gross value added fell by 0.8%, with trade, transport, accommodation and food services, and construction contributing the most to the decline, while manufacturing rose slightly.

Breaking the News / MD