As reported by
Germany's Federal Statistical Office (Destatis), the German economy continued its growth at a slightly slower pace in the third quarter of the current year. The country's season, calendar and price adjusted gross domestic product (GDP) in the third quarter of the year increased by 0.2 percent compared to the previous quarter. In the first half of the year, GDP growth had been larger, with 0.5 percent in the first quarter and 0.3 percent in the second quarter, both quarter on quarter.
Destatis said that the quarter-on-quarter increase in
Germany's GDP in the third quarter this year was attributable to foreign demand. According to provisional calculations, the increase in exports of goods and services was slightly larger than that for imports. Also, domestic consumption (by both private households and government budgets) was higher than in the previous quarter.
According to Destatis, economic growth has also slowed down since the beginning of the year in a year-on-year comparison. In the third quarter of 2012, the price-adjusted GDP grew 0.4 percent compared to the same period of the previous year. However, in calendar-adjusted terms the GDP increase was larger at 0.9 percent.