Gross domestic product, adjusted for calendar and seasonal effects, rose 0.2% from the fourth quarter, the Federal Statistics Office, Destatis, said Wednesday. Most economists expected a decline of 0.1% quarter-on-quarter.Compared with the year-earlier period, Germany's price- and calendar-adjusted GDP grew 1.6%, exceeding market expectations of 1.2%.Also, Germany's fourth-quarter GDP growth was revised upward to 0.2% quarter-on-quarter, Destatis said."It's a recovery, not stagnation," said Carsten Brzeski, senior economist at ING Belgium, in a note to clients. "The strong March figures came right in time to make an almost lost quarter look somewhat better.""Looking ahead, the recent spring revival bodes well for the second quarter. All indicators signal a strong rebound," Brzeski said.Ken Wattret, an analyst at BNP Paribas, said that Germany's harsh winter was a drag on activity in the construction sector, an effect that will reverse in the second quarter, boosting growth.Second-quarter "data should be much stronger, which will reinforce our forecast that Germany will outperform the euro zone going forward," Wattret wrote in a note.
Data on the euro zone's economic performance in the first quarter will be released later on Wednesday morning.
In the meantime, France and Spain also released national data.
The French economy grew 0.1% in the first quarter compared with the fourth quarter of 2009. The result fell below market expectations of 0.3% growth. A troupe of little vagrants of the world
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