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Germany’s GDP rises in Q1

by ChemOrbis Editorial Team -
  • 12/05/2017 (14:52)
According to the data released by Destatis, Germany’s economy continued to grow in the first quarter of 2017.

The data showed that the country’s seasonally and calendar adjusted GDP was up by 0.6% in Q1 of 2017 quarter-on-quarter on the back of both domestic and foreign demand, following an increase of 0.4% in the previous quarter. The growth came in line with expectations.

The economy also grew on a yearly basis by 1.7%, in line with the annual increases 1.7% and 1.8% in Q3 and Q4 of 2016 respectively.

The growth in the economy was achieved by increases in capital formation especially in construction, machinery and equipment as well as in households and general government’s final consumption expenditures. The development of foreign trade as reflected in the rise in exports and imports also contributed to the country’s economic growth.

Economists previously argued that the country’s economic growth in 2017 will depend on the domestic side. However, risks remained due to the political uncertainties in the Eurozone and elections in Germany.
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