Germany’s economy grew slightly more in the third quarter than preliminary figures suggested, amplifying signs that an expected recession will not be as severe as initially feared, data showed on Friday (25).
Europe’s biggest economy expanded 0.4% in the third quarter from the previous three months and 1.3% year-on-year, adjusted for price and calendar effects, the federal statistics office said.
Analysts polled by Reuters had expected the economy to grow 0.3% on a quarterly basis and 1.2% on an annual basis.
Household spending was the main reason for the increase as consumers traveled and got out more after nearly all pandemic restrictions were lifted.
“It is by no means a foregone conclusion that Q3 GDP growth marks the end of positive growth rates for now,” said VP Bank Chief Economist Thomas Gitzel, who added that Q4 could also be positive. .
The government predicts that the economy will grow by 1.4% this year and contract by 0.4% next year.
Source: CNN Brasil
A journalist with over 7 years of experience in the news industry, currently working at World Stock Market as an author for the Entertainment section and also contributing to the Economics or finance section on a part-time basis. Has a passion for Entertainment and fashion topics, and has put in a lot of research and effort to provide accurate information to readers.
