German GDP Rose 0.7% on a Yearly Basis

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The German economy expanded in the first quarter of this year as growth in consumer spending and business investment put an end to six months of stagnation.

GDP rose by 0.4 per cent between January and March, according to Destatis, the Federal Statistics Office. Peter Altmaier, the economy minister, described the figures as a “first ray of hope”. The German economy had contracted in the third quarter of last year, then stalled in the fourth, narrowly avoiding a technical recession.

On an annual basis, German output rose by 0.7 per cent, up from 0.6 per cent in the previous three months.

Via The Times

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