22 May 2015
German economy expands 1.1% year-on-year in the first quarter
FXStreet (Mumbai) - As per the data released by the Federal Statistical Office (Destatis), German economy expanded 1.1% year-on-year in First quarter, beating the estimate of 1.0%.
Quarter-on-quarter the economy increased 0.3% - upon price, seasonal and calendar adjustment - in the first quarter of 2015 compared with the fourth quarter of 2014.
The quarter-on-quarter comparison (following price, seasonal and calendar adjustment) reveals that positive contributions mainly came from domestic demand. External demand increased, too. According to provisional calculations, exports of goods and services were up by 0.8% compared with the fourth quarter of 2014. However, the increase in imports was almost twice as high (+1.5%) over the same period, leading to a downward effect of –0.2 percentage points on GDP growth rate.
Quarter-on-quarter the economy increased 0.3% - upon price, seasonal and calendar adjustment - in the first quarter of 2015 compared with the fourth quarter of 2014.
The quarter-on-quarter comparison (following price, seasonal and calendar adjustment) reveals that positive contributions mainly came from domestic demand. External demand increased, too. According to provisional calculations, exports of goods and services were up by 0.8% compared with the fourth quarter of 2014. However, the increase in imports was almost twice as high (+1.5%) over the same period, leading to a downward effect of –0.2 percentage points on GDP growth rate.