Germany's Q3 economic growth rate of 0.2 → 0.1%, "decreases in exports"

Germany's statistics agency said economic growth was 0.1% in the third quarter compared with the previous quarter.

This is 0.1 percentage point lower than the preliminary 0.2 percentage point announced at the end of last month.

The NSO explained that exports of goods were 2.4% lower than the previous quarter and imports were up 1.3%, resulting in conflicting results in foreign trade.

It also added that consumer spending, including the government and the private sector, increased by 0.3%, but investment, mainly in construction and equipment, fell by 0.2%.

Germany's economic growth has remained flat, at -0.1% last year, 0.2% in the first quarter of this year and -0.3% in the second quarter.

German business magazine Handelsblatt said it managed to pull itself out of the recession in the third quarter due to increased government spending, but exports fell noticeably, adding that uncertainty also grew as Trump was elected in the U.S. presidential election and the German coalition was dissolved.