German economy sees unexpected growth in 3rd quarter; inflation up ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 38
The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending, official figures showed Friday. But the immediate outlook for Europe's biggest economy remained gloomy, with inflation rising again in October. Gross domestic product expanded by 0.3% in the July-September period compared with the previous quarter, the Federal Statistical Office said. That followed a slight increase of 0.1% in the second quarter. The German economy managed to hold its ground despite difficult framework conditions of the global economy, with the continuing COVID-19 pandemic, supply chain interruptions, rising prices and the war in Ukraine, the statistics off

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