German Economy Grows At Better Than Expected Rate

German economy grows at better than expected rate

FRANKFURT, (Pakistan Point News - APP -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.