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German economy grew more than initially estimated in 3Q

MarketWatch logo MarketWatch 11/25/2022 Maria Martinez
© tobias schwarz/Agence France-Presse/Getty Images
DOW JONES NEWSWIRES

The German economy grew in the third quarter more than initially estimated, beating expectations despite high inflation and uncertainty regarding energy supplies due to Russia’s invasion of Ukraine.

According to a second estimate for the period released Friday by German statistics office Destatis, Germany’s gross domestic product grew by an adjusted 0.4% from the previous period.

The figure was raised from the first estimate, which showed the economy grew 0.3%. Economists polled by The Wall Street Journal had also forecast a 0.3% expansion.

GDP expanded 1.3% on year in the third quarter on a calendar and price-adjusted basis, above the 1.2% forecast by economists polled by The Wall Street Journal and the first estimate.

Write to Maria Martinez at maria.martinez@wsj.com

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