According to data released by the Statistics Office on Friday, Germany’s economy expanded at a slower pace than initially expected in the third quarter.
The country’s GDP grew by 0.1% compared to the previous quarter, a slight downward revision from the previous estimate of 0.2% growth.
Household spending increased 0.3% quarter-on-quarter, while government expenditures rose 0.4%. However, investment fell, with spending on machinery and equipment falling by 0.2% and investment in construction falling by 0.3%.
Exports also weakened, with goods and services seeing a decline of 1.9% from the second quarter. The statistics office said that exports of goods, in particular, fell sharply, recording a decline of 2.4%.
