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German economy grows 0.3 percent in 1st quarter, pace slows  

UNB NEWS

Tuesday 15 May, 2018 12:46:16 pm

German economy grows 0.3 percent in 1st quarter, pace slows   

Berlin, Mar 15 (AP/UNB) — Official data show that the German economy grew by 0.3 percent in the first quarter over the previous first-month period, a slower pace than in preceding quarters.

The Federal Statistical Office said Tuesday that, while investment in construction and equipment rose, government spending was lower and both exports and imports decreased. That fits a recent pattern of German growth being supported above all by domestic demand.

It was the 15th consecutive quarter of growth, but significantly slower than last year's expansion.

Europe's biggest economy grew 0.6 percent in the fourth quarter and 0.7 percent in the third.