According to the report from Federal Statistical Office (Destatis), the German economy grew slightly in the third quarter of 2019. The gross domestic product rose 0.1% on the second quarter of 2019 after adjustment for price, seasonal and calendar variations. German economic performance in the second quarter of 2019 had been down 0.2%. In the first quarter of 2019, the German economy had grown by 0.5%.
The quarter-on-quarter comparison (price, seasonally and calendar-adjusted) shows that positive contributions came from consumption, according to provisional calculations. Household final consumption expenditure increased by 0.4% on the second quarter of 2019 and government final consumption expenditure rose by 0.8%. Development of foreign trade made a positive contribution to economic growth, according to provisional calculations. Exports were up 1.0% (price, seasonally and calendar adjusted) on the second quarter of 2019, which had seen a sharp drop in goods exports. Imports in the third quarter of 2019 remained roughly at previous quarter's level (+0.1%).
Compared with a year earlier, the price-adjusted GDP rose 1.0% in the third quarter of 2019. After calendar adjustment, GDP was up by 0.5% on the third quarter of 2018 because there was one working day more than a year earlier.