Germany second-quarter GDP rises by a record 2.2% - Destatis

13 August 2010 10:08  [Source: ICIS news]

LONDON (ICIS)--The German economy grew at a record level in the second quarter of this year, bringing the recovery of Europe's largest economy back on track, the country's federal statistics office said on Friday.

Germany’s GDP rose by 2.2% in the second quarter of 2010 from the previous quarter, based on price, seasonal and calendar adjustment, said Destatis.

“Both domestic and foreign demand made a positive contribution to growth. The dynamic trends observed in capital formation and foreign trade contributed most strongly to the positive development,” Destatis said.

Household and government final consumption expenditure also contributed to Germany's second-quarter GDP growth, the office added.

Compared with the second quarter of last year, the office said Germany's GDP increased by a considerable 4.1%.

The economic performance in the second quarter of 2010 was achieved by 40.3m people in employment. That was an increase of 72,000 people, or 0.2%, from a year earlier, Destatis said.

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By: Hilde Ovrebekk
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