Germany GDP (forecast) for the first quarter 2016 higher than expected

The Gross Domestic Product of Germany appears to be growing, thanks to growth in all components of domestic demand: private consumption and public investment. The estimate by the Federal German Statistical Office (Destatis), today released the preliminary. According to Destatis, the German GDP will register a growth of 0.7% qoq, compared to + 0.3% in the prior quarter, the best performance since the first quarter of 2014, while on an annual basis is expected to expand by 1,6% after + 2.1% reported previously. Exports, however, was an inhibiting factor because imports grew less.