Latest news with #GermanFederalStatisticalOffice
Glasgow Times
23-05-2025
- Business
- Glasgow Times
Germany's economy grew by 0.4% in first quarter, figures show
That was double the growth initially estimated for Europe's biggest economy. The German Federal Statistical Office had reported at the end of last month that the economy expanded by 0.2% in the January to March period compared with the previous quarter. The head of the office, Ruth Brandt, said that 'the surprisingly good economic development seen in March' led to the revision. The last time Germany saw stronger growth was in the third quarter of 2022, when gross domestic product expanded by 0.6%. It is the first forecast since new German Chancellor Friedrich Merz took office (AP) Germany has struggled to generate significant growth for years and the economy shrank in each of the last two years. In last year's fourth quarter, it contracted by 0.2%. In its first forecast since new Chancellor Friedrich Merz's government took office earlier this month, the government's panel of independent economic advisers predicted on Wednesday that GDP will stagnate this year and grow by 1% next year. It pointed to headwinds from US President Donald Trump's tariffs and trade threats, but said a huge infrastructure investment package put together by Mr Merz's coalition offers opportunities for an improvement next year. Carsten Brzeski, global chief of macro at ING bank, said the improved first-quarter showing looks set to be 'a positive one-off' at least in the short term, fuelled by businesses trying to get ahead of Mr Trump's tariffs. 'As a result of the announced tariffs and in anticipation of 'Liberation Day', German industrial production and exports surged in March,' Mr Brzeski said in a research note.
Saba Yemen
23-05-2025
- Business
- Saba Yemen
German Economy Grows Unexpectedly in First Quarter of 2025
Berlin - (Saba): Germany's gross domestic product (GDP) unexpectedly rose by 0.4 percent in the first quarter of this year, compared to the previous quarter, exceeding initial expectations of 0.2 percent growth. Data from the German Federal Statistical Office on Friday showed that increased exports and increased consumer spending were the main factors contributing to the boost in economic growth during this period. "The surprisingly good economic development in March was the main reason for the increase in growth," said Ruth Brand, head of the office, noting that the manufacturing and export sectors developed better than expected. Exports from the automotive and pharmaceutical sectors, in particular, contributed to economic performance in the first quarter of the year. Personnel consumption expenditures rose by 0.5 percent compared to the previous quarter, supported by lower inflation rates and higher wages in some sectors, which increased the income of many Germans. Investments also grew in the construction sector by 0.5 percent and the equipment sector by 0.7 percent. Whatsapp Telegram Email Print more of (International)
North Wales Chronicle
23-05-2025
- Business
- North Wales Chronicle
Germany's economy grew by 0.4% in first quarter, figures show
That was double the growth initially estimated for Europe's biggest economy. The German Federal Statistical Office had reported at the end of last month that the economy expanded by 0.2% in the January to March period compared with the previous quarter. The head of the office, Ruth Brandt, said that 'the surprisingly good economic development seen in March' led to the revision. The last time Germany saw stronger growth was in the third quarter of 2022, when gross domestic product expanded by 0.6%. Germany has struggled to generate significant growth for years and the economy shrank in each of the last two years. In last year's fourth quarter, it contracted by 0.2%. In its first forecast since new Chancellor Friedrich Merz's government took office earlier this month, the government's panel of independent economic advisers predicted on Wednesday that GDP will stagnate this year and grow by 1% next year. It pointed to headwinds from US President Donald Trump's tariffs and trade threats, but said a huge infrastructure investment package put together by Mr Merz's coalition offers opportunities for an improvement next year. Carsten Brzeski, global chief of macro at ING bank, said the improved first-quarter showing looks set to be 'a positive one-off' at least in the short term, fuelled by businesses trying to get ahead of Mr Trump's tariffs. 'As a result of the announced tariffs and in anticipation of 'Liberation Day', German industrial production and exports surged in March,' Mr Brzeski said in a research note.
Rhyl Journal
23-05-2025
- Business
- Rhyl Journal
Germany's economy grew by 0.4% in first quarter, figures show
That was double the growth initially estimated for Europe's biggest economy. The German Federal Statistical Office had reported at the end of last month that the economy expanded by 0.2% in the January to March period compared with the previous quarter. The head of the office, Ruth Brandt, said that 'the surprisingly good economic development seen in March' led to the revision. The last time Germany saw stronger growth was in the third quarter of 2022, when gross domestic product expanded by 0.6%. Germany has struggled to generate significant growth for years and the economy shrank in each of the last two years. In last year's fourth quarter, it contracted by 0.2%. In its first forecast since new Chancellor Friedrich Merz's government took office earlier this month, the government's panel of independent economic advisers predicted on Wednesday that GDP will stagnate this year and grow by 1% next year. It pointed to headwinds from US President Donald Trump's tariffs and trade threats, but said a huge infrastructure investment package put together by Mr Merz's coalition offers opportunities for an improvement next year. Carsten Brzeski, global chief of macro at ING bank, said the improved first-quarter showing looks set to be 'a positive one-off' at least in the short term, fuelled by businesses trying to get ahead of Mr Trump's tariffs. 'As a result of the announced tariffs and in anticipation of 'Liberation Day', German industrial production and exports surged in March,' Mr Brzeski said in a research note.
The Herald Scotland
23-05-2025
- Business
- The Herald Scotland
Germany's economy grew by 0.4% in first quarter, figures show
The German Federal Statistical Office had reported at the end of last month that the economy expanded by 0.2% in the January to March period compared with the previous quarter. The head of the office, Ruth Brandt, said that 'the surprisingly good economic development seen in March' led to the revision. The last time Germany saw stronger growth was in the third quarter of 2022, when gross domestic product expanded by 0.6%. It is the first forecast since new German Chancellor Friedrich Merz took office (AP) Germany has struggled to generate significant growth for years and the economy shrank in each of the last two years. In last year's fourth quarter, it contracted by 0.2%. In its first forecast since new Chancellor Friedrich Merz's government took office earlier this month, the government's panel of independent economic advisers predicted on Wednesday that GDP will stagnate this year and grow by 1% next year. It pointed to headwinds from US President Donald Trump's tariffs and trade threats, but said a huge infrastructure investment package put together by Mr Merz's coalition offers opportunities for an improvement next year. Carsten Brzeski, global chief of macro at ING bank, said the improved first-quarter showing looks set to be 'a positive one-off' at least in the short term, fuelled by businesses trying to get ahead of Mr Trump's tariffs. 'As a result of the announced tariffs and in anticipation of 'Liberation Day', German industrial production and exports surged in March,' Mr Brzeski said in a research note.
