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German economy rebounded due to domestic demand


Thursday, 23 May 2019 14:38 WIB

Ekonomi JermanEkonomi Eropa


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The German economy rebounded in the first quarter after narrowly avoiding recession late last year, led by a strong rise in household consumption and a booming construction sector, the Federal Statistical Office said Thursday.

Germany's gross domestic product--the broadest measure of goods and services produced in an economy--expanded 0.4% in the three months through March from the previous quarter, which equals an annualized growth rate of 1.7%.

The statistics body said that private consumption surged 1.2% from the fourth quarter, whereas government consumption declined 0.3% after a strong rise in the previous quarter.

Investments picked up, led by a 1.9% rise in construction spending in the three months through March.

Source: Marketwatch


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