Germany’s economic growth accelerates in Q1
Destatis reported that Germany’s construction investment rose 2.3% in the first quarter from the previous three months while investment in machinery and equipment also climbed 1.9%. The country’s public consumption moved higher 0.5% on the quarter while household consumption grew 0.4% on the quarter in the January-March period on the back of low energy prices and a strong labor market.
However, some economists reported that the German economy may be unable to maintain its pace of growth in the second quarter as strong first quarter data was partly due to mild winter weather boosting construction activity in the first quarter.
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