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%.
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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