German Economy Grows By 0.1 Pct In Q3 Of '24

(MENAFN- Kuwait News Agency (KUNA)) BERLIN, Nov 22 (KUNA) -- Data from the German Federal Statistical Office showed on Friday a slight growth of 0.1 percent in Germany's economy in Q3 of the same year, compared to the previous quarter, after the office expected a growth of 0.2 percent.
The growth was achieved due to a slight improvement in consumption rates, lower inflation, and higher government investment and wages, said the report.
Despite the modest growth, the office expressed optimism about the German economy, which contracted in Q3 by 0.3 percent.
Germany's central bank (Deutsche Bundesbank) warned of the continued weak performance of economic growth.
The bank predicted in a report that this weakness will accompany the economy in 4Q of this year, main reason being the slight decline in the Chinese economy, and the rise of corporate bankruptcies.
Germany's economy remains affected by a number of unfavorable conditions, the collapse of the government coalition weeks ago, President Donald Trump threatening to impose tariffs on European goods, shortage of workers, and the war in Ukraine. (end)
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