German economy grows 0.3% in the first quarter

Noticias del mercado

13 mayo 2015

German economy grows 0.3% in the first quarter

Destatis released its gross domestic product (GDP) growth for Germany on Wednesday. Germany's preliminary GDP gained by 0.3% in the first quarter, missing expectations for a 0.5% rise, after a 0.7% increase in the fourth quarter.

The weak growth was driven by lower exports. Exports increased more slowly than imports.

Consumers remained the key driver of growth.

On a yearly basis, Germany's GDP declined to 1.1% in the first quarter from 1.6% in the fourth quarter, missing expectations for a fall to 1.2%. It was the slowest growth since the second quarter of 2014.

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U.S.: Retail sales excluding auto, May 0.1% (forecast 0.5%)

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