A sharp rise in private consumption more than compensated for stubborn weakness in investment, helping the German economy post modest growth in the third quarter and avoid recession, data showed on Tuesday.
Germany’s Federal Statistics Office confirmed an earlier flash estimate showing a 0.1 percent rise in seasonally-adjusted gross domestic product (GDP) on the quarter between July and September.
Private consumption rose 0.7 percent quarter on quarter, the biggest increase in three years, and public investment rose by 0.6 percent. Overall consumption contributed 0.5 percentage points to third quarter growth. Trade was also a support, with exports climbing at a faster pace …read more
Source: Newsweek
