Germany: Bundesbank estimates the strong growth of GDP in the first quarter 2016

The growth of the German GDP has proceeded at a fast pace in the first three months of the year, thanks mainly to the positive trend in domestic demand which offset the weakness of exports. For the next quarter, which ends in late June to see economic expansion slowing.

This was stated by the Bundesbank in the April newsletter, explaining that the German economy has benefited in the first quarter from the good weather conditions that favored the construction industry, while consumption benefited from the favorable situation on the labor market and low inflation . The contribution from exports was however not very high.

"The timing of the expansion may be well above the rate of growth seen in the fourth quarter of 2015. Central to the growth trends were the internal factors, while the export channel has come a limited contribution." The Federal Statistical Office will announce on May 13 the data on German GDP in the first quarter.