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- Germany's economy grew modestly in 2019 - Destatis
Germany's economy grew modestly in 2019 - Destatis
According to a preliminary estimate by statistics agency Destatis, Germany's economy grew modestly in 2019, slightly beating expectations.
GDP increased by an adjusted 0.6% in 2019, following 1.5% growth in 2018. This was just above economists' forecast of a 0.5% expansion and it is the weakest expansion since 2013..
"The German economy thus has grown for the tenth year in a row. This has been the longest period of growth in united Germany. However, growth lost momentum in 2019. Growth in 2019 was mainly supported by consumption expenditure. German exports continued to increase on an annual average in 2019, though at a slower pace than in the previous years." Destatis said
Destatis said economic performance was up in the service sector, but markedly down in industry.
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