As reported by Germany's Federal Statistical Office (Destatis), the German economy continued to grow in the third quarter of the current year, following the momentum gained in the second quarter. The country's price, season and calendar adjusted gross domestic product (GDP) in the third quarter of the current year increased by 0.3 percent compared to the previous quarter. According to the most recent calculations, the German economy grew by 0.7 percent quarter on quarter in the second quarter this year, following the stagnation in GDP at the beginning of the year as compared to the last quarter of 2012.
In the year-on-year comparison, Germany's price-adjusted GDP was up 1.1 percent in the third quarter this year, while the calendar-adjusted GDP increased by 0.6 percent.
Destatis said that in the third quarter this year positive contributions were made mainly by domestic demand. In particular, fixed capital formation rose again markedly.