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German economy dodges recession with 0.1% expansion in Q3

Thursday, 14 November 2019 14:35 WIB Ekonomi Jerman Ekonomi Eropa

The German economy escaped a recession in the third quarter as strong consumer spending helped output grow 0.1% quarter-on-quarter, defying expectations of a contraction, preliminary data showed on Thursday. On the year, gross domestic product in Europe’s largest economy expanded by 0.5% from July through September after a 0.3% expansion from April through June, seasonally adjusted figures from the Federal Statistics Office showed. Private household spending was higher than in the second quarter and the state also increased spending, the statistics office said, adding that construction also supported growth. While exports edged up, imports remained at about the level of the previous...

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