This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-20337245
The article has changed 13 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
Germany's economic growth slows | Germany's economic growth slows |
(35 minutes later) | |
Germany's economy grew by 0.2% between July and September, according to the latest official statistics. | Germany's economy grew by 0.2% between July and September, according to the latest official statistics. |
Germany is the largest economy in Europe, but has weakened in recent months due to the region's debt crisis. | Germany is the largest economy in Europe, but has weakened in recent months due to the region's debt crisis. |
The latest figure is down from growth of 0.3% recorded in the second quarter and the 0.5% figure seen in the first three months of this year. | The latest figure is down from growth of 0.3% recorded in the second quarter and the 0.5% figure seen in the first three months of this year. |
Germany's growth was driven mainly by "foreign demand", federal statistics office agency Destatis said. | Germany's growth was driven mainly by "foreign demand", federal statistics office agency Destatis said. |
Meanwhile, French gross domestic product rose by 0.2% in the third quarter, but the previous quarter was revised down to -0.1% from zero, according to French statistics agency Insee. | |
The production of goods and services in France, Europe's second-largest economy, increased "after five quarters of near stagnation", it said. | |
The third-quarter growth figures for the whole of the eurozone will be released later on Thursday morning. | |
'Negative growth' | |
Last month, the German government cut its forecast for economic growth in 2013 from 1.6% to 1%, blaming the reduction on the eurozone crisis and weaker growth in emerging nations in Asia and Latin America. | Last month, the German government cut its forecast for economic growth in 2013 from 1.6% to 1%, blaming the reduction on the eurozone crisis and weaker growth in emerging nations in Asia and Latin America. |
Germany's gross domestic product (GDP) grew by 4.2% in 2010 and 3% in 2011. | Germany's gross domestic product (GDP) grew by 4.2% in 2010 and 3% in 2011. |
"The negative data seen in recent weeks and months could very well lead to negative growth" in the fourth quarter, said analysts at Natixis Bank. | "The negative data seen in recent weeks and months could very well lead to negative growth" in the fourth quarter, said analysts at Natixis Bank. |
Unlike most of its partners in the 17-nation eurozone, Germany has mainly escaped the worst effects of the crisis that has threatened to unravel the bloc. | Unlike most of its partners in the 17-nation eurozone, Germany has mainly escaped the worst effects of the crisis that has threatened to unravel the bloc. |
Until now, it has benefited from the weaker euro, making its exports more competitive outside the eurozone. | Until now, it has benefited from the weaker euro, making its exports more competitive outside the eurozone. |
However, German consumers are still spending. "Consumption by both private households and government was higher than in the second quarter when adjusted for price, seasonal and calendar variations," Destatis said. | However, German consumers are still spending. "Consumption by both private households and government was higher than in the second quarter when adjusted for price, seasonal and calendar variations," Destatis said. |