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4 years ago
German economic growth accelerates to 0.4 pct in Q4
February 14, 2014 / 7:06 AM / 4 years ago

German economic growth accelerates to 0.4 pct in Q4

BERLIN, Feb 14 (Reuters) - German economic growth unexpectedly accelerated to 0.4 percent in the fourth quarter of 2013 thanks to a rise in exports and capital investment, seasonally-adjusted data showed on Friday.

Preliminary data from the Statistics Office showed Europe's largest economy grew by 1.3 percent on the year. The office last month gave an estimate for quarter-on-quarter growth of "around a quarter of a percentage point".

"Positive impulses came above all from foreign trade," said the Statistics Office. "Exports of goods and services rose a lot more than imports."

"Mixed signals came from home," it said, adding that public expenditure stayed on the same level as in the previous quarter while private consumption was slightly below.

"Capital investment developed positively ... However a strong reduction in inventories put the brakes on economic growth."

The quarterly growth beat the consensus forecast for a 0.3 percent expansion. The Statistics Office confirmed seasonally-adjusted growth of 0.3 percent for the third quarter of 2013.

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