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Germany’s economy grew slightly below initial estimates in the third quarter

By Maria Martinez

Germany’s Census Bureau Destatis said Thursday that Germany’s economy was slower in the third quarter than originally reported.

According to Destatis, gross domestic product increased by 1.7% adjusted from the previous quarter. This expansion fell short of economists’ expectations of 1.8% growth in a Wall Street Journal survey.

According to Destatis, GDP in the third quarter increased 2.5% year-on-year on a calendar and price adjustment basis, confirming preliminary estimates and in line with economists’ forecasts surveyed by the journal.

According to Destatis, GDP in the third quarter of 2021 was 1.1% lower than in the fourth quarter of 2019, the quarter before the start of the coronavirus crisis in Europe.

Household consumption in the third quarter increased 6.2% in the quarter after adjusting for price, seasonal and calendar fluctuations. Government final consumer spending fell 2.2%. Investment decreased, equipment decreased by 3.7%, and construction decreased by 2.3%.

Foreign trade in the third quarter declined. Compared to the previous quarter, exports were down 1.0% and imports were down 0.6%.

Write to Maria Martinez at maria.martinez@wsj.com

Germany’s economy grew slightly below initial estimates in the third quarter

Source link Germany’s economy grew slightly below initial estimates in the third quarter

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