German economy expands amid budget surplus

10:57 | 25/08/2016 Global Economy

The German economy has logged another quarter of expansion, the National Statistics Office has confirmed. It also said Europe's powerhouse logged a decent budget surplus for the first six months of the year.

German economy expands amid budget surplus

Europe's largest economy grew by 0.4 percent in the April-to-June quarter year on year, the National Statistics Office (Destatis) reported Wednesday.

The figure - adjusted for seasonal, calendar and price effects - was higher than the 0.2-percent expansion that had been penciled in by analysts.

Second-quarter growth didn't match the 0.7-percent jump logged in the first three months of the year, but was still solid, given mounting geopolitical tensions, post-Brexit-vote worries and slowing growth in some crucial emerging economies such as China.

Destatis noted Q2 growth was mainly driven by rising exports and a further pick-up in domestic consumption.

Germany's central bank, the Bundesbank, expects full year-growth to come in at 1.7 percent this year, which would match last year's expansion.../.

 

Source: dw.com/dpa, Reuters, AFP

Theo ven.vn