BERLIN, Nov. 23 (Xinhua) -- Germany's economy is still powering ahead, data from the Federal Statistical Office showed on Thursday.
The Wiesbaden-based statisticians confirmed an earlier preliminary estimate that gross domestic product (GDP) grew by a seasonally- and price adjusted rate of 0.8 percent in the third quarter (Q3) of 2017.
Compared to the same period last year, German Q3 GDP was 2.8 percent higher.
The Federal Statistical Office highlighted the significant role played by trade and investment in driving German growth. Exports of goods and services rose by 1.7 percent compared to Q2, while imports were 0.9 percent higher. Germany was hence able to achieve a trade surplus which contributed positively to GDP growth.
Meanwhile, Q3 investment in equipment such as machines and vehicles grew by 1.5 percent compared to the previous quarter.
Nevertheless, Bertelsmann Foundation expert Thiess Petersen warned that Germany's current economic boom could soon falter.
Petersen told Xinhua that Q3 GDP growth was entirely "sustained by trade and a build-up of stocks" due the simultaneous stagnation of private and public consumption.
"The sum of consumption expenditure and gross fixed capital formation more or less stagnated," Petersen added. As a consequence, companies would "adapt to stagnant domestic consumption sooner or later" if the trend persisted.
The Bertelsmann expert further voiced concerns that combined with protectionist measures threatened by the U.S. administration, German growth would yet "come under pressure."
A single purchase
