Economic growth in Germany accelerated in the first quarter with domestic consumption and construction activity leading the way. GDP grew at a quarterly rate of 0.70%, data from the Federal Statistical Office showed on Friday. Annually, German GDP was at 2.70%, more than the 0.30% recorded in the fourth quarter of 2015. The data beat analyst expectations of a 0.60% gain. Despite being one of the best national GDPs this quarter, economists expect German growth to moderate from its current pace by the end of Q2 due to slowing investment. In a separate report, German inflation remained subdued, falling 0.40% on a month over month basis in April.