German GDP only rose 0.1% in the second quarter of 2011 and imports grew faster than exports
Aug 16th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The momentum which the German economy carried into 2011 has slowed down sharply. In the second quarter of 2011, the gross domestic product (GDP) rose just 0.1% - - after price and seasonal adjustment - - on the first quarter, as reported today by Destatis, the federal statistics office. The result for the first quarter of 2011 was slightly corrected downwards to +1.3%. Imports overtook exports in the period, resulting in a negative contribution to growth.