2/14, 8:00 AM (Source: TeleTrader)
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German GDP flat in Q4

Germany’s gross domestic product (GDP) adjusted for price, season and calendar remained unchanged in the fourth quarter of 2019 compared to the previous three-month period, the country's statistical office Destatis said in its preliminary report on Friday. The report also noted the GDP figure for the third quarter was revised upward by 0.1 percentage point to an increase of 0.2%.

Negative contributions from gross fixed capital formation in machinery and equipment were offset by increases in fixed capital formation in construction and other fixed assets. The report also noted that German exports declined slightly in the last three months of 2019 quarter on quarter, while imports rose.

On an annual basis, Europe's largest economy grew by 0.3% on a price-adjusted basis compared to the same quarter in 2018. Adjusted for price and calendar, German GDP was up 0.4% year on year.

Breaking the News / NP