February 14, 2018 / 7:21 AM / 2 months ago

German exports drive solid growth in fourth quarter 2017

BERLIN, Feb 13 (Reuters) - Strong exports helped the German economy to continue its solid upswing at the end of last year and grow by 0.6 percent on the quarter from October through December, data showed on Wednesday.

The headline figure for seasonally adjusted gross domestic product (GDP) growth, released by the Federal Statistics Office, was in line with the consensus forecast and marked a slowdown from the downwardly revised 0.7 percent in the third quarter.

On the year, Europe’s biggest economy grew by a calendar-adjusted 2.9 percent in the fourth quarter of 2017, the data showed. This was weaker than the consensus forecast of 3.0 percent.

The office confirmed an earlier estimate for full-year GDP growth of 2.2 percent in 2017 which translated into a calendar-adjusted rate of 2.5 percent. This was the strongest pace since 2011. (Reporting by Michael Nienaber; Editing by Paul Carrel)

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