Slower Growth Marks German Economy in Q3

Germany's economy grew by a modest 0.1% in Q3 2024, as reported by the statistics office. While household and government spending increased slightly, investments fell and exports dropped significantly, impacting overall growth.

The German economy recorded slower growth in the third quarter of 2024, as reported by the national statistics office.

Gross domestic product saw a marginal increase of 0.1%, a decline from earlier estimates of 0.2%. Despite slight upticks in household consumption and government expenditure, investment in machinery and equipment fell by 0.2%, and construction investment decreased by 0.3%.

Significantly, exports of goods and services were down by 1.9% from the previous quarter, with goods exports falling sharply by 2.4%, posing a challenge to stronger economic momentum.

(With inputs from agencies.)