The German economy expanded 1.7% on quarter in Q3 2021, slightly below 1.8% in the preliminary estimate and an upwardly revised 2% in the previous period, final figures showed. Household expenditure jumped 6.2% and was the only driver of growth while government reduced its consumption by 2.2% and gross fixed capital formation fell for a second quarter, mainly machinery and equipment (-3.7%) and construction (-2.3%).
Exports of goods and services were down 1% and imports decreased 0.6% as more services were imported than in the previous quarter. Year-on-year, the economy advanced 2.5%, matching preliminary estimates.
