Berlin, leap forward technical tests. The German economy grew by 0,7% in the second quarter compared to the first three months, driven by household consumption and a strong rebound in investments after the weakness in the first three months of the year. The data is from the Federal Statistical Office.
The figures, which show the strongest leap forward in the last 12 months, confirm last week's estimates. In detail, private consumption increased by half a percentage point, public spending by 0,6 percent and investments by 0,9 percent. Foreign trade is doing well, with the growth of exports (+2,2 per cent), slightly higher than that of imports (2 per cent).
For the first half of the year, provisional data indicate a surplus in the public accounts of 0,6% of GDP. The deficit was reduced to 2,2 billion euros from 6 billion euros in the first half of 2012. This year the federal government expects a 0,5% growth in GDP.
The data on German gross domestic product is perfectly in line with the forecasts of the OECD, which for the euro area sees GDP growth in the second quarter of 0,3% after -0,3% in the first quarter, the first expansion since third quarter 2011.
