BERLIN (Reuters) – A higher exports, state spending and private consumption drove an expansion of 0.4 percent of gross domestic product (GDP) of Germany in the second quarter, offsetting weaker business investment in Europe’s largest economy, data showed on Wednesday .
Confirming a preliminary reading the Federal Statistics Office said that net foreign trade added 0.6 percentage points to GDP, after exports increase 1.2 percent and imports rose 0.1 percent.
the state spending grew 0.6 percent in the quarter, which contributed with 0.1 percentage points to GDP after the authorities spend more to accommodate and integrate a record influx of immigrants.
the consumer spending rose 0.2 percent in the quarter, adding 0.1 percentage points to GDP in the three months to June.
the investment in plant and equipment fell 2.1 percent in the quarter, subtracting 0.4 percentage points from overall economic growth.
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