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German growth slows to 0.3 percent in first quarter on weak trade

Reuters  |  BERLIN 

(Reuters) - German slowed slightly more than expected in the first quarter of the year due to weak trade, a first estimate from the showed on Tuesday.

Europe's biggest grew 0.3 percent in the first three months - the slowest rate since the third quarter of 2016 - after expanding 0.6 percent in the final three months of last year.

Economists had on average expected growth of 0.4 percent, with forecasts ranging from 0.2 percent to 0.5 percent in a poll of 34 economists.

The statistics office said positive contributions in the first quarter came mainly from domestic demand while trade was weak.

(Reporting by Michael Nienaber; Editing by Madeline Chambers)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 11:40 IST