Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Germany beats France despite slow growth

Share this article

Germany beats France despite slow growth
Workers building a CNC lathe at a factory in Chemnitz, Lower Saxony. Photo: DPA
09:50 CEST+02:00
The German economy, Europe's biggest, grew by 0.4 percent in the second quarter of 2015, fractionally faster than in the preceding three months, but slightly short of analyst expectations, official data showed on Friday.

German gross domestic product (GDP) expanded by 0.4 percent in the period from April to June, up from 0.3 percent in the first quarter, the federal statistics office Destatis said in a flash estimate.

Analysts had been projecting marginally stronger growth of 0.5 percent for the second quarter.

"The German economy continued along its positive growth path," the statisticians said.

"Positive impulses came primarily from foreign trade. Exports grew a lot faster than imports thanks to the weak euro, with goods exports in particular growing strongly."

But consumer spending and government spending also increased.

Weak investment, on the other hand, weighed on growth, Destatis added.

On a 12-month basis, GDP growth stood at 1.6 percent in the second quarter compared with 1.2 percent in the first quarter, it said.

Germany's performance compared favourably to European partner France, which saw growth stagnating in the second quarter.

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

QUIZ: Which influential Icelander are you?

Iceland may have a population of just over 330,000 people (all with equally unpronounceable names) but that doesn't stop it churning out a stream of globally-renowned people. Take our quiz to discover your Icelandic spirit animal.