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11/14, 8:00 AM (Source: TeleTrader)
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German GDP growth at 0.1 % in Q3

Germany’s gross domestic product (GDP) adjusted for price, season and calendar increased by 0.1% in the third quarter of 2019 compared to the second quarter of the year, the country's statistical office Destatis said in its preliminary report on Thursday. The report also noted the GDP figure for the second quarter was revised downward by 0.1 percentage point to a decrease of 0.2%.

Positive contributions in the quarter to September mainly came from consumption. Increases were observed in household final consumption expenditure, government final consumption expenditure, exports and gross fixed capital formation in construction. Imports remained roughly unchanged from the second quarter, while gross fixed capital formation in machinery and equipment declined quarter on quarter.

On an annual basis, Europe's largest economy grew by 1% on a price-adjusted basis compared to the same quarter in 2018. Adjusted for price and calendar, German GDP was up 0.5% year on year.

Breaking the News / NP