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Germany: second quarter, GDP confirmed at + 0.4%

Record budget surplus,1.2% of GDP

24 August, 16:36
(ANSA) - ROME - In second quarter of 2016, Germany's GDP grew by 0.4%, compared to previous quarter, according to the final reading that confirms the first estimate, the Federal Statistics Office in Wiesbaden reported. Growth was driven mainly by trade, which contributed 0.6 percentage points to GDP. Exports increased by 1.2% between April and June, while imports fell by 0.1%.

In addition, a record surplus of 18.5 billion euro for Germany's public budget, equal to 1.2% of GDP, was announced in the first half of this year. The Statistical Office ''Destatis'' announced that ''budgets of federal state, regions, municipalities and social security'' were able to take advantage of favourable developments in the fields of ''employment and economy''. The DPA agency underlined this is the biggest budget surplus since the second half of 2000. (ANSA).

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