Wednesday, August 14, 2013

GDP rose 0.7% in Q2 beating expectations

German GDP rose price, seasonally and calendar adjusted 0.7 percent in the second quarter of 2013 according to Destatis, higher than the expected 0.6 percent. Drivers were household and public consumption expenditure and to some extend exports. Price adjusted GDP is up 0.9 % compared to last year. The long winter played a role as it delayed building investment.

France also beat expectations and grew by 0.5 percent in the second quarter. Good news.

Not much more to add before the detailed report is out on the 23rd.

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