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|BERLIN Wholesale Thunder Jerseys , Aug. 15 (Xinhua) -- The German economy grew steadily but at a slightly lower rate than anticipated in the second quarter of 2017, figures released Tuesday by the Federal Statistical Office showed.
Gross Domestic Product (GDP) in Germany was up 0.6 percent between April and June from the previous quarter, just below economists' expectations of 0.7 percent.
Nevertheless, the figure confirmed a continuing overall positive trend which economists attributed to rising investment and domestic consumption.
German consumers are increasingly in a spending mood as low unemployment contributes to higher earnings and the lasting low interest rate environment disincentivizes saving. At the same time Cheap Thunder Jerseys , the public sector has also raised its spending to accommodate hundreds of thousands of refugees.
Unlike during the first quarter of 2017, trade was not a major driver of growth between April and June.
"Price-adjusted imports grew much faster than exports compared to the same period last year," the Federal Statistical Office noted.
Firms appeared unperturbed by international risk factors such as Brexit, underscoring a new record level in business confidence recently measured by the Munich-based Ifo Institute for Economic Research. The optimism in boardrooms was reflected in growing investment in machinery Cheap Patrick Patterson Jersey , buildings and other assets.
The healthy showing of the German economy adds to a wider picture of a strengthening economic recovery across the Eurozone. The 19-member block grew by 0.6 percent in the second quarter of 2017, slightly behind the United States and twice the rate of Britain.
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SEOUL, Aug. 7 (Xinhua) -- Gasoline and diesel consumptions in South Korea hit a new quarterly high in the April-June quarter due to cheap crude oil and the so-called golden holiday in May, a government report showed Monday.
Consumption of gasoline and diesel Cheap Terrance Ferguson Jersey , which are used for transport fuel, reached new highs of 20 million barrels and 43 million barrels each in the second quarter, up 3.6 percent and 3.8 percent respectively from a year ago, according to the Ministry of Trade Cheap Kyle Singler Jersey , Industry and Energy.
It was attributed to low crude oil prices, an increase in traffic volume in May that had the so-called golden holidays such as the Children's Day and the Buddha's Birthday, and the rising number of passenger cars.
Naphtha consumption expanded 4.5 percent over the year to 160 million barrels in the quarter on demand from the oil refining companies.
But consumption of Bunker-C oil, which is used for power plants Cheap Jerami Grant Jersey , tumbled 31.8 percent, while LPG consumption fell 0.9 percent on the falling number of LPG-powered vehicles.
Consumption of all oil products reached 234 million barrels in the June quarter, up 1.4 percent from a year earlier.
Oil product exports declined 4.2 percent to 119 million barrels, but the exports value of oil products jumped 14.6 percent to 7.2 billion U.S. dollars thanks to higher product prices.
Crude oil imports inched down 0.7 percent to 265 million barrels in the cited period as oil refiners did maintenance works of some of their factories.
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