German Economy Grew Slightly More Than Initially Estimated in 2Q

By Maria Martinez

Germany’s economy grew more in the second quarter than reported in the first release, German statistics office Destatis said Tuesday.

Gross domestic product rose by an adjusted 1.6% from the previous quarter, according to Destatis in its second estimate for the quarter. This expansion was larger than economists’ expectations of 1.5% growth in The Wall Street Journal’s survey.

GDP grew 9.4% on year in the second quarter on a calendar and price-adjusted basis, Destatis said. This compares with a 9.2% expansion in the preliminary estimate. Economists polled by the Journal had forecast 9.2% growth.

In the second quarter, household consumption rose 3.2% on the quarter after adjustment for price, seasonal and calendar variations. Government final consumption expenditure increased by 1.8%. Investment also increased, being 0.3% up in equipment and in construction.

Foreign trade increased in the second quarter….

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