German GDP growth accelerates to 0.6% at start of 2017
- Author: Ronnie Bowen May 13, 2017,
May 13, 2017, 0:43
Although growth slowed, France's economy added almost 50,000 new jobs in the first three months of the year, marking seven consecutive quarters of net new job creation, data from the Insee statistics agencies showed on Friday.
German growth accelerated in the first quarter, while the French economy continued to add jobs.
Germany's gross domestic product grew at a quarterly clip of 0.6%, or 2.4% in annualized terms, the Destatis statistics office said Friday.
It represented an acceleration over the second half of previous year, when the economy had added just 0.2 per cent between July and September and 0.4 per cent between October and December.
The growth rate, which is adjusted for price, seasonal and calendar variations, followed 0.4 percent growth in the last quarter of 2016 and was in line with expectations.
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She said this support encourages Indonesia to innovate more on the implementation of human rights protections in the archipelago. The country's first and second reviews took place in April 2008 and May 2012, respectively.
Germany has the largest economy in the eurozone and its performance is in marked contrast to that of other big countries, such as Italy and France.
High levels of employment, rising wages and low interest rates have all boosted consumer spending, while government spending has increased following the refugee influx of 2015-16, he said.
Germany's economy expanded by 0.4 percent in the fourth quarter of 2016.
Foreign trade also helped, as exports increased faster than imports.
German companies also benefited from the recovery of the global market and the weak euro, which has led to increased exports. It was driven by investment and consumption, according to new official figures.