| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : EU Economy Last Updated: Nov 17, 2014 - 3:05 PM


German GDP up 0.1% in third quarter of 2014; France up 0.3%
By Michael Hennigan, Finfacts founder and editor
Nov 14, 2014 - 7:33 AM

Email this article
 Printer friendly page

France: GDP and its main components

German GDP (gross national product) grew by only 0.1% in Q3 2014 while France managed to grew 0.3% in the third after a decline in the previous quarter, according to data published in Wiesbaden and Paris this morning.

Destatis, the federal statistics office, said that the German economy turned out to be stable in a difficult global economic environment. In the third quarter GDP rose 0.1% on the second quarter after seasonal adjustments and revisions which show that output had slightly decreased (–0.1%) in the second quarter of 2014 - the German economy had started the year with much momentum (+0.8% in the first quarter of 2014).

Positive contributions were made mainly by households, which considerably increased their final consumption expenditure in the third quarter of 2014, according to provisional calculations. Foreign trade also supported the German economy. The increase in exports was higher than that of imports. Consequently, the balance of exports and imports had a slightly positive effect on the GDP in a quarter-on-quarter comparison. By contrast, total gross fixed capital formation (investment) decreased. According to the provisional calculations, gross fixed capital formation especially in machinery and equipment in the third quarter was considerably down on the previous quarter (adjusted for price, seasonal and calendar variations). Gross fixed capital formation in construction decreased slightly. Also, inventories were markedly reduced.

In a year-on-year comparison, the German economy grew. The price-adjusted GDP in the third quarter of 2014 was up by 1.2% on the third quarter of 2013.

According to provisional calculations, the economic performance in the third quarter of 2014 was achieved by 42.9m persons in employment in the domestic territory, which was an increase of 384,000 or 0.9% on a year earlier.

In Paris INSEE (Institut National de la Statistique et des Études Économiques) reported that in Q3 2014, GDP in volume terms increased by 0.3%, after a slight decline in Q2 (–0.1%).

Households’ consumption expenditure increased moderately (+0.2% after +0.3%). General government expenditure increased by 0.8% in the last quarter (after +0.5%). Total gross fixed capital formation fell again (–0.6% after –0.8%).

GDP grew 0.2% in Q4 2013 and 0% in Q1 2014.

Final domestic demand (excluding inventory changes) contributed +0.2 points to GDP growth (after 0.1 points in Q2). Exports recovered (+0.5% after –0.1%) while imports accelerated (+1.1% after +0.3%). The foreign trade balance contributed negatively to activity (–0.2 points after –0.1 points in previous quarter), while changes in inventories contributed positively to GDP growth (+0.3 points after –0.1 points).

Philippe Waechter, chief economist at Natixis Asset Management in Paris, pointed out that the two main drivers of the growth were government spending, which expanded 0.8% during the quarter compared with 0.5% in the second; and a jump in inventories.

“The figure was surprising,” he told the FT. “But it means that there is still no strong momentum in growth for France and this issue is something that we still have to look at seriously.”

Eurostat will report on Eurozone GDP later thsi morning.


© Copyright 2011 by Finfacts.com

Top of Page

EU Economy
Latest Headlines
Spain's strong recovery to slow in the next few years
Italy's Mezzogiorno is Achilles' heel of Euro Area - lowest birth rate since 1862
Euro Area GDP grows at weak 0.3% in Q2 2015
German GDP up 0.4% in Q2 2015; France's GDP stagnates
Germany's Surplus: Lots of critics; Credible solutions scarce
Euro Area industrial production dips in June and May after a flat April
Greece faces two years of recession according to EU officials
High EU youth unemployment rate not as bad as it seems
Eurozone retail PMI surges to highest since January 2011
ECB monetary policy still tight for Southern Europe
German exports fell in June — surplus at record; Exports up 13.7% year-on-year
Eurozone manufacturing sector continued to expand in July
Weak euro unlikely to have significant impact on Euro Area growth
Is Euro Area Ireland's top trading partner?: EU28 is overwhelmingly UK's
German car firms boost exports from Spain, UK, Portugal, Czech Republic, Slovakia, Hungary and Romania
Flash Eurozone manufacturing/ services PMI close to four-year high despite Greek crisis
Krugman calls euro a Roach Motel; Hotel California gets 1-star grade
Greece & Euro Crisis: July 2015 articles from Finfacts
Greece and other poor countries in Euro Area will not become rich
Euro Area manufacturing/ services PMI hits four-year high in June
Western European car market: Recovery continues
Greece could become a failed state like Venezuela
Multinational companies pay on average 30% less tax than domestic competitors in EU
EU's list of 30 tax havens omits the biggest 4 in Europe
China to invest in Juncker's European investment fund
Greek talks collapse; Game theorists gambling with future — Germany's vice-chancellor
German exports and industrial production in strong rises in April
Tackling Inequality: Scandinavian countries have the most successful welfare systems in Europe
Eurozone unemployment fell by 130,000 in April 2015 — down 849,000 in 12 months
Eurozone service sector business activity slowed during May
German 2015 GDP forecast cut; Jobless level at 24-year low
Eurozone manufacturing in modest acceleration in May
FDI into Europe at record in 2014; UK on top: Germany location for future investment
Eurozone economy loses growth momentum; Jobs growth rises
Athens leak suggests Juncker has plan for Greece
Draghi will not end QE early but warns of risks
Eurozone grows faster than US and UK in Q1 2015
German GDP at slower pace, France faster in Q1 2015
Germany may cut income tax; Germans still shun risky investments
Germany had record exports and imports in March 2015