Germany’s economy expanded in the third quarter by 1.8% but missed expectations.
- The figure was smaller than the economist’s expectations of 2.1% growth in The Wall Street’s survey.
- Even though the growth was slower than expected, the recovery of the German economy continued over the summer after a growth of 1.9% in the second quarter of 2021.
- The growth in the third quarter of 2021 was mainly backed by higher household final consumption expenditure.
- Annually, the GDP in the third quarter of 201 was still 1.1% below that in the fourth quarter of 2019, before the COVID-19 pandemic started.
Uncertainties resulting from the COVID-19 pandemic might lead to larger revenues than usual.
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Source: Federal Statistical Office.