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German economy books strong finish to 2017

Published : Thursday, 15 February, 2018 at 12:00 AM Count : 262

FRANKFURT, Feb 14: Europe's largest economy Germany expanded 0.6 per cent between October and December, official data showed Wednesday, highlighting the country's economic strength as politicians struggle to form a government.
The figure follows up growth of 0.9 per cent in the first quarter of 2017, 0.6 per cent in the second, and 0.7 per cent in the third -- all adjusted for price, seasonal and calendar effects.
Combined, the quarterly results add up to 2.2-per cent expansion over the full year, the fastest rate since 2011.
Wednesday's data confirmed a preliminary estimate of full-year growth Destatis released in January.
The final three months of the year saw exports contribute more strongly to growth than they had between July and September.
Meanwhile, private consumption remained roughly flat quarter-on-quarter, while government spending increased.
Investments in capital goods increased, while construction spending fell back.
"Looking ahead, the same fundamentals which have supported growth in 2016 and 2017 should still be in place" this year, economist Carsten Brzeski of ING Diba bank said, pointing to low interest rates, a strong labour market and a synchronised upturn across the 19-nation eurozone.    AFP

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