Germany posts 0.4 percent 4Q growth
BERLIN (AP) — Germany’s economy continued to slowly pick up steam at the end of 2013, growing 0.4 percent in the fourth quarter over the previous three months largely through exports, according to seasonally adjusted figures.
The Federal Statistical Office said Friday in year-on-year terms, fourth quarter gross domestic product was up 1.3 percent, following increases of 1.1 percent in the third quarter and 0.9 percent in the second quarter.
The office says the “positive contributions were made mainly by foreign trade” as increases in exports were “substantially higher” than imports.
Germany’s economy, Europe’s largest, grew 0.4 percent overall in 2013 but the government is predicting a 2014 rise of 1.8 percent.
ING economist Carsten Brzeski says the new figures reaffirm “Germany remains the economic stronghold of the eurozone.”