Higher Private Consumption and Construction Activities Drive Growth in German GDP - Forex News by FX Leaders
GDP

Higher Private Consumption and Construction Activities Drive Growth in German GDP

Posted Thursday, May 23, 2019 by
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.

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