German GDP contracted -0.2% qoq in Q3, slightly better than expectation of -0.3% qoq. That’s also the first quarter-on-quarter decline since Q1 2015. But that’s a notable reversal from 0.5% qoq growth in Q2. The Federal Statistical Office noted that the slight decline in GDP was “mainly due to the development of foreign trade” as exports were down while imports were up in the quarter. “As regards domestic demand, there were mixed signals”.
Economy Ministry said in its monthly report that “the upturn was merely disrupted during the third quarter”. And, “once these special effects have dissipated, the German economy’s upturn will continue.”
