German GDP grew by 0.6% in Q2

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Tuesday, Aug 15 2017

German GDP grew by 0.6% in Q2

The German economy continues to grow. In the second quarter of 2017, the gross domestic product (GDP) rose 0.6% on the previous quarter after adjustment for price, seasonal and calendar variations. Based on most recent calculations, the Federal Statistical Office (Destatis) also reports that GDP growth in the first quarter of 2017 had been slightly larger (0.7%) The quarter-on-quarter comparison (upon adjustment for price, seasonal and calendar variations) shows that positive contributions came from domestic demand.

Final consumption expenditure of both households and general government increased markedly. Capital formation was up, too. There was an increase in fixed capital formation in machinery and equipment, in construction and in other fixed assets compared with the first quarter of 2017. According to provisional calculations, the development of foreign trade, however, had a downward effect on growth because the price-adjusted quarter-on-quarter increase in imports was considerably larger than that of exports.

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