Germany's gross domestic product (GDP) adjusted for price, season and calendar observed a quarterly rise of 0.2% in the first trimester of 2024, the country's Federal Statistical Office Destatis revealed in its final report on Friday. The numbers matched those from the first estimate.
The document attributed the mild expansion mostly to foreign trade, namely exports of goods and services. However, it also noted that "household final consumption expenditure did not recover" despite a recent fall in the country's inflation.
Year-on-year, the figure adjusted for price declined by 0.9%. Price and calendar adjusted, it decreased by 0.2% compared to the same quarter in 2023. Both aligned with the estimates in the initial report.
