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Thứ năm, ngày 31 tháng 10 năm 2024
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Ngày 16/05/2012-09:21:00 AM
German economy grows 0.5 percent in first quarter

German GDP rose 0.5 percent in the first quarter of 2012 compared to the same period last year, the Federal Statistics Office announced Tuesday.

Local analysts said the figures would help dispel market anxiety over recession potentially hitting the largest economy of Europe. Previously, German GDP shrank for two consecutive quarters.

The results beat experts' predictions of a 0.2 percent growth from the previous period.
A number of positive trends has invariably pointed to a better start for the German economy in 2012, particularly with exports rising significantly.
In addition, domestic consumption increased by a large range in comparison with the previous quarter. This has partially made up for the negative impact caused by a decline in the investment sector.
The federal government of Germany had expected an annual growth of 0.7 percent this year, and of 1.6 percent in 2013. These calculations were primarily based on a robust domestic market, falling unemployment and higher wages to spur consumer spending, together with low interest rates which should boost investment and residential construction.
The Federal Statistics Office will publish in-depth statistics on May 24./.

Xinhua

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