Germany experienced a lower than expected growth in the first quarter 2015, with an increase of only 0.3% of its gross domestic product (GDP) , according to official figures published Tuesday, May 13 by the Federal Statistics Office Destatis.
Analysts polled by the financial services provider Factset had forecast a rise of 0.5%. This cons-performance is due to a lower contribution from foreign trade. In the fourth quarter 2014, the increase was 0.7%.
The public and private consumption and investment, both in equipment and in construction, contributed positively to growth while Foreign trade weighed due to higher imports, higher than that of exports, Destatis said.
These data below expectations contrast with the 0.6% growth, higher than expected, announced in France. In raw data, German GDP increased by 1.1% compared to the first quarter 2014, again missing the consensus was 1.2%
Read also:. The French growth rebounded in the first quarter
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