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German economic growth eases in third quarter
[FRANKFURT] Economic growth in European powerhouse Germany slowed slightly in the third quarter, preliminary data showed Friday, as it braved headwinds from China's economy and the Volkswagen pollution scandal.
Europe's largest economy expanded by 0.3 per cent in the July-September period on a quarterly basis, the federal statistics office said. That compared to growth of 0.4 per cent in the previous quarter.
Clouds have been gathering over the German economy with factory orders, a key measure of demand, falling for the third month in a row in September, according to data unveiled earlier this month.
Industrial production also slid in September, weighed down by slowing activity in the manufacturing and construction sectors.
Shoppers in Germany are also becoming more reticent in the run-up to the key Christmas period, recent statistics have shown.
Retail sales data stagnated in September and a leading consumer sentiment agency said shoppers were beginning to worry about the economic consequences of the huge influx of migrants flowing into Europe's top economy.