German household spending drives weaker-than-expected Q3 growth By Reuters

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© Reuters. FILE PHOTO: People are seen in a supermarket after the re-opening of the borders, amid the coronavirus disease (COVID-19) outbreak, at the Rhein Center shopping mall in Weil am Rhein, Germany June 15, 2020. REUTERS/Arnd Wiegmann

BERLIN (Reuters) – German household spending was the sole driver of a weaker-than-expected economic expansion in the third quarter, more than offsetting a drop in company investments and state consumption over the summer months, detailed data showed on Thursday.

Gross domestic product in Europe’s largest economy grew by 1.7% quarter-on-quarter in adjusted terms from July to September, the Federal Statistics Office said. That fell short of a flash estimate of 1.8% published last month.

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