Germany’s economic growth slowed marginally in the third quarter, data from Destatis showed Friday.
Gross domestic product climbed 0.3 percent from the second quarter, when it grew 0.4 percent. The third quarter growth came in line with expectations.
The calendar-adjusted GDP advanced 1.7 percent year-on-year, slightly faster than the 1.6 percent rise seen in the prior quarter. Nonetheless, it was slightly weaker than the 1.8 percent growth forecast by economists.
On an unadjusted basis, economic growth improved to 1.8 percent from 1.6 percent.
Positive contributions to quarterly growth were made mainly by final consumption expenditure as both household and government spending increased further.
By contrast, gross fixed capital formation decreased slightly. In addition, foreign trade also had a downward effect on growth because the increase in imports was markedly larger than that of exports, Destatis said.
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