German economy reports 0.4% GDP growth in Q1 2019

Media IN Frankfurt, May 16, 2019, SPA

Germany’s economy grew by 0.4 per cent in the first three months of 2019 compared to the previous quarter.

Strong private consumer spending and a booming construction industry saw Europe’s largest economy grow again, the Federal Statistical Office said on Wednesday based on provisional data, after gross domestic product (GDP) shrank in the third quarter and stagnated in the final quarter of 2018.

The German government and leading economic institutes scaled back their 2019 growth forecasts earlier this year. Berlin currently anticipates an increase of 0.5 per cent in the country’s GDP this year, revised down from 1 per cent.