The German economy in the first quarter grew by 0.2% compared with the previous three months, according to final data from the German Federal Statistical Agency (Destatis). The indicator coincided both with the previously announced level and with the forecast of analysts polled by Trading Economics. In annual terms, GDP growth, adjusted for the number of working days, was 3.8%, while an increase of 3.7% was previously reported. This is the highest growth rate in the last three quarters. Consumer spending in Germany in January-March fell by 0.1% compared to the previous quarter, while government spending rose by 0.1%. Capital investments increased by 2.7%. Exports fell by 2.1%, imports increased by 0.9%. “The conflict in Ukraine and the ongoing COVID-19 pandemic have exacerbated existing imbalances, including supply chain disruptions and rising prices,” said Georg Thiel, president of Destatis. In the fourth quarter, GDP fell by 0.3% qoq and rose by 1.8% y/y. Source: FINMARKET.RU

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