Exports boost German growth in Q3

Exports boost German growth in Q3

Exports boost German growth in Q3

Gross domestic product-the broadest measure of goods and services produced in an economy-grew at an annualized rate of 3.3%, compared with 2.6% in the second quarter, the Federal Statistical Office, Destatis, said Tuesday.

Carsten Hesse, European economist at German bank Berenberg, said: "So far, the Catalan political turmoil, the political uncertainty in Italy ahead of the spring 2018 elections and sticky Brexit negotiations have had no measurable negative impact on the Eurozone economy".

"Exports grew faster in the third quarter than imports", a statement by the Federal Statistical Office read.

The preliminary figure, adjusted for seasonal swings, beat expectations as analysts surveyed by Factset had forecast 0.6 percent growth.

Gross domestic product accelerated to 2.8% in the third quarter when compared with the same period previous year - up from 2.3% in the three months ended June, according to Tuesday's data.

In the third-quarter data release, Destatis pointed to the "positive contributions.from foreign trade" as exports outpaced imports.

Government and consumer spending "remained rather stable" in the third quarter, it added, while noting that investments had increased, particularly "in machinery and equipment".

Destatis also revised upwards its first-quarter figure, saying the German economy accelerated by 0.9 percent in the first three months of 2017 instead of the earlier reported 0.7 percent.

The German economy ministry last month sharply upgraded its full-year growth forecast to 2.0 percent, up from 1.5 percent previously. Illustrating this trend, Spain's economy is widely expected to muster growth north of 3% this year.

Europe's largest economy has in recent years been powered by domestic demand, helped by record-low unemployment, low inflation and an influx of migrants in 2015.

On November 9, the European Commission raised its growth forecast for the euro area.

Notícias recomendadas

  • Bharti Airtel sells stake in Bharti Infratel for Rs3,325 crore

    Bharti Airtel sells stake in Bharti Infratel for Rs3,325 crore

    However, the deal was "upsized by over 25% led by healthy investor appetite", the company said. The proceeds from this sale will be used to pare its debt, the company said in a BSE filling.

    Hawaiian Airlines to Hold Open Houses for Displaced Island Air Workers

    Hawaiian Airlines plans to announce similar open houses for former Island Air employees on the Neighbor Islands. The job fair is in addition to the November 18 job fair being held in Honolulu.
    South Korea Leader to Visit China as Japan's Abe Left Waiting

    South Korea Leader to Visit China as Japan's Abe Left Waiting

    The tensions triggered by North Korea's missile tests were not mentioned during the opening statements of Duterte and Moon. The two countries agreed to normalize their ties in a joint statement issued by their foreign ministries on October 31.
  • Google cracks down on power-user apps that use Android's accessibility API

    Google cracks down on power-user apps that use Android's accessibility API

    Apps that fail to meet this requirement within 30 days may be removed from Google Play. Google is aiming to take down the malicious apps from Play Store with this move.
    U.S.  airstrike kills Al-Shabaab militant in Somalia

    U.S. airstrike kills Al-Shabaab militant in Somalia

    Africom said its special forces will continue to use all authorized and appropriate measures to protect Americans and to disable terrorist threats.
    Gobiernos latinoamericanos se solidarizan con Costa Rica por sismos

    Gobiernos latinoamericanos se solidarizan con Costa Rica por sismos

    Hasta el momento, según la Cruz Roja de Costa Rica , no se reportan daños significativos ni víctimas. El Centro de Alertas de Tsunamis del Pacífico no emitió ninguna advertencia.
  • Police search for 77-year-old woman from Terre Haute — SILVER ALERT

    Police search for 77-year-old woman from Terre Haute — SILVER ALERT

    If you have any information on Oswald's whereabouts, you're asked to call Terre Haute police at 812-238-1661 or 911. Alice Oswald, 77, is a white female, 5 feet 3 inches tall, 120 pounds with gray hair and blue eyes.
    Joe Jackson's odd message to Blanket

    Joe Jackson's odd message to Blanket

    Blanket , who now reportedly goes by B.G., is the youngest of Jackson's three children and is not often seen in public these days. Jackson posted a shot of his feet outstretched on a gurney with the somewhat sheepish caption: "Well s-..."
    Girl, 12, suing to legalize medical marijuana nationwide

    Girl, 12, suing to legalize medical marijuana nationwide

    Though Bortell's health improved, the federal prohibition of marijuana has proven to be a roadblock in other parts of her life. Marijuana now sits in the most restrictive category according to the Controlled Substance Act - Schedule I.
  • Max Schrems can sue Facebook, but only as a consumer

    Mr Schrems had been seeking to claim 500 euros ($586; £448) in damages per person for about 25,000 people . Schrems can only sue Facebook in Ireland as Max Schrems , not on behalf of 25,000 users.
    Mduduzi Manana Case Calls Criminal Sentencing Into Question

    Mduduzi Manana Case Calls Criminal Sentencing Into Question

    In addition, he will also have to undergo an anger management programme and 500 hours of community service, starting Tuesday. The three women are Mandisa Duma‚ Noluthando Mahlaba and Thina Mopipa.
    HSBC va payer pour éviter le procès — Evasion fiscale

    HSBC va payer pour éviter le procès — Evasion fiscale

    Deux anciens dirigeants de la banque HSBC Private Bank Suisse SA restent en revanche pénalement poursuivis. L'ordonnance de validation de la convention n'est pas susceptible d'un recours.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.