German Economy Propelled by Exports, Corporate Investments in 3Q
November 23 2017 - 1:50AM
Dow Jones News
By Nina Adam
FRANKFURT--The German economy picked up speed in the third
quarter, propelled by exports and corporate investments, the
Federal Statistical Office, Destatis, said Thursday.
Germany's gross domestic product grew at a quarter-to-quarter
rate of 0.8% in the three months through September, or 3.3% in
annualized terms, Destatis said in a press release. This confirmed
preliminary growth estimates, but provided additional details about
the drivers of growth.
The data reflect a pickup in global demand for high-end tools
and machinery and stronger corporate investments in Europe's
largest economy.
Illustrating the trend, German exports increased 1.7% from the
second quarter, while investments in plant and machinery rose 1.5%.
The data take account of seasonal swings and calendar effects.
Consumption by households and the government, which led economic
activity in previous quarters, was slack in the third quarter.
Household consumption slipped 0.1% from the second quarter, while
government consumption was flat.
Write to Nina Adam at nina.adam@wsj.com
(END) Dow Jones Newswires
November 23, 2017 02:35 ET (07:35 GMT)
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