German GDP up 0.4% in Q2 of 2015

17 Aug '15

2 min read

The German economy continues to grow. In the second quarter of 2015, the gross domestic product (GDP) rose 0.4 per cent on the first quarter of the year after adjustment for price, seasonal and calendar variations, the Government's statistical department said in a press release. There had been a moderate GDP growth of 0.3 per cent at the beginning of 2015, too.

In a quarter-on-quarter comparison (adjusted for price, seasonal and calendar variations), positive contributions were made mainly by the balance of exports and imports.

According to provisional calculations, exports increased much more than imports, one of the reasons for this development being the weak euro. Especially exports of goods recorded a particular increase compared with the previous quarter. Both household final consumption expenditure and government final consumption expenditure continued to develop positively. However, growth was slowed by weak gross fixed capital formation. Compared with the first quarter, a decline in fixed capital formation was recorded especially in construction. Also, inventories were markedly reduced.

Economic growth accelerated year on year, too. The price-adjusted GDP was up by 1.6 per cent in the second quarter of 2015, following 1.2 per cent in the first quarter of 2015.

The economic performance in the second quarter of 2015 was achieved by 42.8 million persons in employment in the domestic territory, which was an increase of 175,000 or 0.4 per cent on a year earlier. (SH)

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