German Economy Stagnates In Q3

(RTTNews) - The German economy stagnated in the third quarter, the preliminary estimate from Destatis revealed on Thursday.

Gross domestic product remained unchanged, as expected, following a revised decline of 0.2 percent in the second quarter. Destatis said the investment in equipment developed positively, while exports declined from the prior quarter.

On a yearly basis, calendar-adjusted GDP logged a steady growth of 0.3 percent in the third quarter. Price-adjusted GDP also climbed 0.3 percent but reversed the 0.1 percent fall seen in the previous quarter.