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German economy to grow robustly in third quarter

Growth slowed at the start of third quarter but solid upswing likely to continue

Gulf News

Berlin: Germany’s economy weakened at the start of the third quarter after a strong performance in the first half of the year, but indicators suggest its solid growth will continue, the finance ministry said on Thursday. Europe’s biggest economy grew 0.7 per cent on the quarter in the first three months of the year and 0.6 per cent from April to June, driven by increased household and state spending as well as higher investments in buildings and machinery. “But recent economic data indicate that the solid upswing will continue also in the third quarter,” the ministry said, adding that business morale remained high and German exporters were expected to benefit from a global economic recovery.