German Economy Grew Slightly More Than Initially Estimated in 2Q

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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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