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German economic recovery falters | German economic recovery falters |
(10 minutes later) | |
Germany's recovery from recession faltered in the final quarter of 2009, according to preliminary figures released on Friday. | Germany's recovery from recession faltered in the final quarter of 2009, according to preliminary figures released on Friday. |
The German economy failed to grow at all in the last three months of the year, with GDP unchanged compared with the previous quarter. | The German economy failed to grow at all in the last three months of the year, with GDP unchanged compared with the previous quarter. |
That follows two consecutive quarters of growth in Europe's largest economy. | That follows two consecutive quarters of growth in Europe's largest economy. |
Germany emerged from recession last summer thanks to a recovery in its exports - on which it largely relies. | Germany emerged from recession last summer thanks to a recovery in its exports - on which it largely relies. |
The BBC's Tristana Moore in Berlin said the figures were "worse than expected". | |
Analysts were surprised by the figures, with the majority expecting modest growth in the last three months of the year. | |
Year-on-year, the economy shrank by 1.7%, the figures showed. | |
"We no longer have a slump, but rather a very weak recovery," said Gerd Hassel, economist at BHF Bank. "The first quarter will probably turn out weak too." | |
Data earlier this month showed a strong rebound in German exports, with exports up for the fourth month in a row in December. | |
That was despite an 18.4% fall in exports for 2009 as a whole - the biggest year-on-year fall since 1950, losing it the title of world's biggest exporter to China. |