Thanks to the export economy and consumer spending by consumers and the state has the German economy gained in recent months. The Gross Domestic Product (GDP) grew in the second quarter to 0.4 percent from the previous quarter, the Federal Statistics Office announced on Friday. Business representatives warned the pace of growth would be to keep possibly much longer.
In Delaying was the economy, according to the statisticians of exports, which in April-June compared with the beginning zulegten. Also increased consumer spending both household and the state. Growth was hampered in the spring quarter, according to statistics on the other hand by weak investment. In particular, in equipment and buildings is in accordance with the strong first quarter, less money has been inserted.
In the first quarter, GDP had risen by 0.7 percent. Boosted had growth from January to March, especially household spending and the State. The low oil prices, spending around refugees and the mild winter contributed to the good start in the year.
Analysts warned that time already, so many favorable factors would not soon come together again. Accordingly, a slight cooling was expected in the second quarter. But they did not fall so violently as feared by observers.
In the previous year, GDP grew in the second quarter by 3.1 percent, as strong as since five years no longer, as the statistical Office also announced. Corrects an “exceptionally high influence calendar”, this represents a growth of 1.8 percent. In the first quarter there were therefore 1.9 percent.
The Federal Government expects for the full year economic growth of 1.7 percent. However, the deputy head of the German Chambers of Industry and Commerce (DIHK), Volker Treier, is of the opinion that it would “difficult to keep the pace of growth”. On the export side take “the headwinds from different directions” to.
So business with Great Britain and Turkey would difficult, explained Treier. “An economic revival in Russia, Brazil and other commodity-producing countries is in sight”, as were from the United States and China initially expected “no new stimulus”.
” While we are confident in the short term for further economic development, however, grow in long-term outlook, the worry lines, “said the president of the Federation Wholesale, Foreign trade and services (BGA) Anton Börner. Sticking point was the “persistently weak investment activity”. In addition, the external environment would “in the coming months even better”.
As in Germany slowed in the second quarter in Europe, growth somewhat. GDP in the euro area grew by only 0.3 percent, as the European statistics agency Eurostat announced on Friday. so you confirmed preliminary figures of July. In the first quarter the economy grew in the euro zone by 0.6 percent.
The slowdown in spring is explained primarily from a weak performance in France and Italy: in both the second and in the third largest economy in the euro zone, the economy stagnated in the second quarter.
For the EU as a whole amounted Eurostat economic growth to 0.4 percent. In the first quarter it had been 0.5 percent.
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