Germany's GDP Growth Revised Up To 0.4%

(RTTNews) - The German economy logged a stronger-than-estimated growth in the first quarter, detailed report from Destatis revealed on Friday.

Gross domestic product registered a quarterly growth of 0.4 percent compared to the previous estimate of 0.2 percent expansion. This followed a 0.2 percent contraction in the fourth quarter.

"Growth was slightly higher than predicted in the first estimate due to the surprisingly good economic development seen in March," Federal Statistical Office President Ruth Brand said.

"In particular, output in manufacturing and exports registered stronger growth than initially assumed," Brand added.

Calendar-adjusted GDP remained flat on a yearly basis after easing 0.2 percent in the fourth quarter. The first quarter GDP was revised up from the previous estimate of 0.2 percent fall.