German Economy Grows At Better Than Expected Rate

Fakhir Rizvi Published August 24, 2016 | 04:08 PM

German economy grows at better than expected rate

FRANKFURT, (UrduPoint / Pakistan Point News -24th Augst,2016) : Strong foreign trade and buoyant consumption drove Germany's economy, Europe's largest, to better-than-expected growth in the second quarter, Federal statistics office Destatis said on Wednesday. Gross domestic product (GDP) grew by 0.

4 percent between April and June, adjusted for seasonal, Calendar and price effects -- twice as fast as analysts surveyed by Factset predicted.

However, the final figure, which confirmed a preliminary Destatis reading earlier in August, represented a slow-down from the unexpectedly strong 0.7-percent expansion in the first quarter.

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