Investments and exports drive German surge in the first quarter

Investments and exports drive German surge in the first quarter

The German economy stepped up its pace of surge to 0.6% during the first quarter of this year, underpinned by sound exports, soaring investments in machinery as well as buildings, not to mention decent spending by the state and households, as data disclosed on Tuesday.

Confirming a preliminary result for surge, the Federal Statistics Office announced that exports added 1.3% on the quarter and imports soared 0.4%, meaning net trade gained 0.4%.

Investment in construction went up 2.3% during the first quarter, which is the strongest soar in three years. It added up to 0.2% points to the overall surge. An ascending population, enhanced job security along with record-low interest rates are driving a property boom in the EU’s number one economy.

Investment in equipment and machinery inched up 1.2%, contributing 0.1% to the GDP surge rate. It’s undoubtedly a sign that German companies are pushing ahead with investments notwithstanding political risks clouding the surge outlook.

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera