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Economics

German Domestic Demand Supported Economy in Weaker Third-Quarter

  • GDP breakdown confirms government and private spending rose
  • Third-quarter data shows exports, machinery investment dropped

Germany’s economic growth was supported by domestic demand last quarter as a slump in exports slowed the expansion to its weakest pace in a year.

Government spending climbed 1 percent and private consumption rose 0.4 percent in the three months through September, while exports contracted 0.4 percent, the Federal Statistics Office in Wiesbaden said on Thursday. Capital investment stagnated as spending on machinery fell. Gross domestic product rose by a seasonally-adjusted 0.2 percent in the three months through September, in line with a Nov. 15 estimate.