German growth rebound driven by booming household spending, construction

May 23, 2019

BERLIN (Reuters) – Stronger household spending and a pick-up in construction were the primary drivers behind Germany’s growth rebound in the first quarter, detailed data showed on Thursday, confirming a preliminary reading of a 0.4% expansion on the quarter.

The Federal Statistics Office said private consumption rose 1.2%, the biggest increase since 2011, contributing 0.6 percentage points to the expansion.

Investments in construction increased 1.9% on the quarter which resulted in a contribution to overall growth of 0.2 percentage points.

(Reporting by Michael Nienaber, editing by Riham Alkousaa)

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