The German economy reduced to half its growth rate
Despite the rising of private consumption and higher rate spending, the German economy reduced to half its growth rate in the third quarter, to 0.2%. The weak foreign trade made the overall activity to be sluggish in Europe's biggest economy.
The Federal Statistics Office declared Thursday that imports rose by 0.2%, but the net foreign trade and exports fell by 0.3% and 0.4%.
While billions of euros are spent by the authorities on integrating the migrants from Iraq and Syria that have arrived since 2015 in Germany, the state spending rose by 1.00%, making the overall economy to grow by 0.2% in the quarter.
0.2% were also added to the GDP by household spending, and consumers where deriving advantages from out-of-the-charts employment, things that really played an important role in the rising of real wages and lowering the costs of borrowing.
Thanks to the growing population in Germany, investment in construction rose by 0.3% in the third quarter. The construction industry didn't actually contribute to this growth, it was all thanks to an increase in job security and interests rates so low that made the property quickly roar.
Investment in plant and specialized equipment lowered by 0.6% in the quarter, showing that the companies are holding off investment. This is despite's European Central Bank's policy of cheap money.
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