German economy grows faster than expected in summer 

Created: 11/25/2022, 8:48 am

By: Thomas Schmidtutz

Breaking news from IPPEN MEDIA.

(symbol photo) © IPPEN MEDIA

Inflation, the Ukraine war, supply chains: the German economy has had a fair amount of headwind this year.

So far, however, the economy has proven to be unexpectedly robust.

Wiesbaden - Despite headwinds, the German economy grew faster than initially expected in the summer.

In the third quarter, gross domestic product (GDP) increased by 0.4 percent compared to the previous quarter and thus a little faster than initially thought.

According to an initial estimate, the Wiesbaden statisticians had assumed an increase in economic output of 0.3 percent, adjusted for price, calendar and seasonal effects.

 The German economy is thus unexpectedly robust despite ongoing supply bottlenecks, inflation and the consequences of the Ukraine war.

The German economy had gained 0.8 percent in the first quarter and 0.1 percent in the second quarter.