BERLIN (dpa-AFX) - Germany's economy expanded as initially estimated in the first quarter on investment and household spending, detailed results from Destatis showed Thursday.
Gross domestic product advanced 0.4 percent sequentially in the first quarter, after staying flat in the fourth quarter and contracting 0.2 percent in the third quarter of 2018. The rate matched estimate published on May 15.
The expenditure-side breakdown showed that private consumption advanced 1.2 percent, while government spending decreased 0.3 percent.
Gross fixed capital formation growth improved to 1.1 percent from 0.8 percent. Exports and imports climbed 1 percent and 0.7 percent, respectively.
On a yearly basis, GDP climbed working-day adjusted 0.7 percent, which was slightly faster than the 0.6 percent expansion seen in the fourth quarter.
On an unadjusted basis, economic growth slowed to 0.6 percent from 0.9 percent a quarter ago. Both annual GDP rates came in line with preliminary estimate.
Copyright RTT News/dpa-AFX