International News

Germany 3Q growth confirmed at 0.2 percent

BERLIN, (MILLAT+APP/AFP) – Germany’s economic growth
in the third quarter this year was just 0.2 percent, driven mainly by domestic consumption but dented by foreign trade, the federal statistics office Destatis confirmed on Thursday.
Domestic spending rose 0.4 percent and state expenditure by one
percent compared to the preceding quarter, but gross investment and imports experienced negligible growth and exports fell by 0.4 percent.
“Foreign trade had a negative effect on gross domestic product (GDP)
growth” in the order of 0.3 percentage points, Destatis said.
The period covers the immediate aftermath of the Brexit referendum in
Britain, a major market for German goods.
The report confirmed provisional figures issued on November 15.
Analysts have predicted a pick-up in activity for the final quarter.