Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  August 23, 2012 10:06:33

Germany - 2Q GDP revision confirmed growth of 0.3%

The first revision of the data on the development of German GDP for 2Q confirmed preliminarily announced a growth of 0.3% in consumer spending growth of 0.4% and export growth of 2.5%. In 1Q German GDP grew by 0.5%.

Imports in 2Q grew by 2.1%, the overall balance of foreign trade contributed to the overall GDP growth by three-tenths percent. Domestic consumption contributed to GDP growth 2 decimals.
The decline of 0.9% was recorded in 2Q capital investment, which reduced GDP by 0.2%. Investment in new factories fell by 2.3% and construction 0.3%. Total domestic demand resulting GDP decreased by 0.1 percentage points.

2Q GDP in the euro area fell by 0.2%.
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