// IP Marketing video - START// IP Marketing video - END

Germany posts 0.3 % economic growth in Q2

Germany posts 0.3  % economic growth in Q2

PanARMENIAN.Net - The German economy, Europe's biggest, beat analysts' expectations to grow by 0.3 percent in the second quarter, buoyed by rising exports and robust domestic demand, official data showed on Tuesday, Aug. 14, according to AFP.

Analysts had been forecasting economic growth of just 0.2 percent for the period from April to June.

Nevertheless, growth was still slower than the 0.5 percent seen in the first quarter, as Germany, too, begins to feel the effects of the long-running debt crisis that has pushed much of Europe into recession, according to the data published by the national statistics office Destatis.

"Positive impulses came from both consumer spending and from net foreign trade," Destatis said in a statement.

"According to preliminary data, exports grew somewhat faster than imports. Furthermore, both private and public spending was higher than in the preceding quarter, helping to offset a decline in investment," the statisticians explained.

While many of Germany's eurozone partners are teetering on the edge of or already in recession, the bloc's economic powerhouse is continuing to expand, thanks largely to deep structural reforms implemented a number of years ago.

 Top stories
20,149 optical-mechanical devices were manufactured in the reporting period against the 3,388 produced in the same period last year.
Yandex and Uber said they will join forces in the six countries to create a new company operating in some 127 cities.
“A more efficient and reliable energy distribution network is important for economic growth in Armenia”, - said Sonali Tang.
As the National Statistical Service reports, imports to Armenia totaled $803.7 million, registering a 17.9% increase year-on-yea
Partner news