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Destatis released its final gross domestic product (GDP) growth for Germany on Tuesday. Germany's final GDP gained by 0.7% in the first quarter, in line with the preliminary reading, after a 0.3% increase in the fourth quarter.
The increase was driven by domestic final consumption expenditure. Household consumption expenditure rose by 0.4% in the first quarter, while government spending increased by 0.5%.
Exports of goods and services were up 1.0% in first quarter, while imports climbed 1.4%.
On a yearly basis, Germany's final GDP fell to 1.3% in the first quarter from 2.1% in the fourth quarter, in line with the preliminary reading.
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