German growth slowed in the third quarter due to weak external demand, according to data published by the Federal Statistics Office Destatis on Thursday.
Gross domestic product (GDP) rose 0.3% from the second quarter when the quarter-on-quarter reading showed a 0.7% increase. The reading was in line with the consensus expectations for a slowdown.
"Positive contributions were made only by domestic demand in the third quarter of 2013," Destatis noted in the report.
"The balance of exports and imports, however, had a downward effect on GDP growth. While imports continued to increase, exports were less dynamic when compared with the previous quarter," the Statistics Office added.
Source: LiveCharts
Gross domestic product (GDP) rose 0.3% from the second quarter when the quarter-on-quarter reading showed a 0.7% increase. The reading was in line with the consensus expectations for a slowdown.
"Positive contributions were made only by domestic demand in the third quarter of 2013," Destatis noted in the report.
"The balance of exports and imports, however, had a downward effect on GDP growth. While imports continued to increase, exports were less dynamic when compared with the previous quarter," the Statistics Office added.
Source: LiveCharts
