German GDP Rose 0.7% on a Yearly Basis

The German economy expanded in the first quarter of this year as growth in consumer spending and business investment put an end to six months of stagnation.

GDP rose by 0.4 per cent between January and March, according to Destatis, the Federal Statistics Office. Peter Altmaier, the economy minister, described the figures as a “first ray of hope”. The German economy had contracted in the third quarter of last year, then stalled in the fourth, narrowly avoiding a technical recession.

On an annual basis, German output rose by 0.7 per cent, up from 0.6 per cent in the previous three months.

Via The Times

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza