Germany reported a very strong expansion in the first three months of the year ahead of the aggregate euro area GDP figures, providing upbeat expectations for the expansion to be seen.
The Germany economy expanded a strong 1.5% in the first three months of the year, almost quadrupling from the previous quarter's 0.4% expansion and strongly above 0.9% expected the preliminary GDP figures showed today. The expansion was the strongest since the second quarter of last year when the economy expanded 2.1%.
On the year in non-seasonally adjusted terms, the economy expanded 5.2% from a revised 3.8% from 4.0% and above 4.5% expected. In WDA terms the economy expanded 4.9% from a revised 3.8% and above 4.2% expected.