Latest data released by Destatis - 24 May 2018
- GDP NSA +1.6% vs +1.6% y/y prelim
- GDP WDA +2.3% vs +2.3% y/y prelim
- Exports -1.0% vs -0.5% q/q expected
- Imports -1.1% vs -0.5% q/q expected
Preliminary report can be found here. Slight delay in the release by the source.
Final figures are in line with the preliminary reading, so nothing much to glean from the headlines. Exports and imports both fell more than expected in the quarter, but not much of a surprise given the softer Q1 readings.
Looking into details, private consumption added 0.4% to Q1 GPD and domestic demand also rose by a similar amount - so at least domestic factors remain decent. The drag was government spending which fell 0.5% q/q.
------
