BERLIN, May 12 (Xinhua) -- German economic growth has increased in the first quarter of 2017, it was announced Friday.
Gross domestic product (GDP) rose 0.6 percent after adjustment for price, seasonal and calendar variations between January and March, the Federal Statistical Office in Wiesbaden reported in a preliminary report.
The positive development was boosted by higher investments and domestic consumption, as well as booming exports, it said.
Germany's economy expanded by 0.4 percent in the fourth quarter of 2016.
Employment rates in the country are at a record high. This economic performance was achieved by 43.7 million persons, which represents an increase of 638,000 workers or 1.5 percent compared to Q1 2016.
German companies also benefited from the recovery of the global market and the weak euro, which has led to increased exports. Exports in March reached their highest value since 1950, according to the statistical office.
The statistical office will present the official report on May 23.
