Private consumption helps Germany to meager growth in Q1


Private consumption helped Germany eke out meager economic growth of 0.1 in the first quarter of the year, compensating for declines in exports and investment in Europe's largest economy, data showed on Friday.

The seasonally adjusted data from the Federal Statistics Office confirmed an earlier flash estimate showing Germany's gross domestic product (GDP) rose by 0.1 percent on the quarter and shrank by 1.4 percent on the year in the first quarter.

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Private consumption added 0.4 percentage points to GDP in the first quarter, while gross capital investment deducted 0.3 percentage points. Foreign trade added 0.1 percentage points as exports fell but imports dropped even more rapidly.

(Reporting by Annika Breidthardt and Sarah Marsh)