The Gross Domestic Product (GDP) of Germany for the first quarter of 2022 grew by 3.8% in its annualized reading, above the 3.7% expected and 1.8% in the last third of 2021. This is the best growth figure seen by the indicator since the second quarter of last year.
Quarter-on-quarter GDP rose 0.2%, meeting expectations, after falling to -0.3% in the fourth quarter of 2021, according to Destatis, the German Federal Statistical Office.
“The war in Ukraine and the ongoing coronavirus pandemic have exacerbated existing disruptions, including disrupting supply chains and rising prices,” says the Dr Georg Thiel, president of the Federal Statistical Office. “Despite difficult global economic conditions, the German economy started the year 2022 with slight growth,” Thiel continued.
Source: Fx Street
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