Economy: German economy grows in the third quarter - despite burdens
Low Rhine levels, weaker exports and high energy prices are having a negative impact. Nevertheless, the German economy is growing more strongly than expected by economists.
Germany's economy grew minimally in the third quarter, with a 0.2 percent increase in Gross Domestic Product (GDP) from the previous quarter, according to a preliminary estimate by the Federal Statistical Office. Economists had predicted a 0.1 percent increase. The growth was hindered by low water levels on the Rhine River, which disrupted inland shipping and industrial supply chains, as well as weaker foreign trade and subdued consumer spending due to high energy prices.
Despite this, the economy is expected to grow by 1.3 percent for the year, according to the autumn forecast.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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