Higher Private Consumption and Construction Activities Drive Growth in German GDP
Arslan Butt • 1 min read
According to the Federal Statistics Office, German GDP’s growth in Q1 2019 was mainly driven by a rise in private consumption and construction activities.
Private consumption increased by 1.2% in the first quarter of this year, the highest rise since 2011. This contributed 0.6 percentage points to the growth in German GDP during this period.
Investments in construction registered a 1.9% increase during Q1 2019, accounting for a growth in GDP by 0.2 percentage points.
In more positive news for the GDP, Destatis also reported a hike of 1.0% in export of goods and services in Q4 2018, as well as a reduction in imports by 0.7% during this period.