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Germany’s economy expands 0.3% in Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/11/2015 (11:40)
According to media reports, data from Germany’s Federal Statistics Office showed that the country’s gross domestic product (GDP) expanded 0.3% in the third quarter on the back of higher government and private spending. Some economists commented that record-low unemployment and interest rates have supported domestic demand which helped offset the effects of weaker overseas demand.

German’s private spending rose 0.6% in the third quarter. Import climbed 1.1% while exports edged up 0.2% in the three months ending in September. Capital investment, meanwhile, declined 0.3% in the same period. The German economy was also boosted by stronger activities in both the services sector and in manufacturing. In November, Germany’s composite PMI rose to a reading of 54.9 in November from a reading of 54.2 in the previous month, posting the highest reading in more than one year, according to Markit.
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