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| German economic recovery falters | German economic recovery falters |
| (30 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. |
| Meanwhile France reported a 0.6% rise in GDP for the same three-period - better than analysts expected. | Meanwhile France reported a 0.6% rise in GDP for the same three-period - better than analysts expected. |
| 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". | 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. | 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. | 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." | "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. | 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. | 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. |
| Meanwhile another quarter of growth in the French economy added to optimism over the strength of France's recovery from recession. | Meanwhile another quarter of growth in the French economy added to optimism over the strength of France's recovery from recession. |
| "I think [0.6%] is really a satisfactory result that proves that the stimulus measures we took ... were efficient," said Christine Lagarde, the French economy minister, speaking to a French radio station. | "I think [0.6%] is really a satisfactory result that proves that the stimulus measures we took ... were efficient," said Christine Lagarde, the French economy minister, speaking to a French radio station. |
| The euro fell sharply against both the pound and the dollar immediately following the announcements. | The euro fell sharply against both the pound and the dollar immediately following the announcements. |
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