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Germany's GDP Expands As Expected

Germany's economy grew as expected at the end of 2017, data published by Destatis showed Tuesday.

Gross domestic product grew 0.6 percent sequentially in the fourth quarter, in line with expectations, but slightly slower than the 0.7 percent expansion seen in the third quarter.

At the same time, the calendar-adjusted GDP advanced at a faster pace of 2.9 percent annually, after rising 2.7 percent. GDP was forecast to grow 3 percent.

Similarly, price-adjusted GDP grew 2.3 percent versus 2.2 percent a quarter ago.

Positive contribution to sequential growth came mainly from foreign demand. General government final consumption expenditure increased, whereas household final consumption expenditure remained roughly at the previous quarter's level.

Gross fixed capital formation in machinery and equipment was slightly up on the previous quarter, while capital formation in construction was slightly down, Destatis said.

Destatis reported 2.2 percent growth for the whole year of 2017. The provisional annual GDP result released in January has been confirmed.

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