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 3 Version 4
Germany's economic growth slows Eurozone falls into recession
(35 minutes later)
Germany's economy grew by 0.2% between July and September, according to the latest official statistics. The eurozone has returned to recession as the region's debt crisis continues to hurt demand, latest official statistics show.
Germany is the largest economy in Europe, but has weakened in recent months due to the region's debt crisis. The economy of the 17-nation bloc contracted by 0.1% between July and September, after shrinking 0.2% in the previous three months, Eurostat said.
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 eurozone was last in recession in 2009.
However, its largest economy, Germany, is still growing despite being affected by the eurozone debt crisis.
Germany's economy grew by 0.2%, 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 compared with the previous three months. But the previous quarter was revised down to -0.1% from zero, according to French statistics agency Insee.Meanwhile, French gross domestic product rose by 0.2% in the third quarter compared with the previous three months. 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 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. "We are now talking about the fourth quarter already and there the figures show that things are not looking as good," said Christian Schultz, an economist at Barenberg Bank.
Christian Schultz, an economist at Barenberg Bank, said the French and German figures were better than expected, so the figure for the eurozone as a whole could be positive, meaning that it has avoided going back into recession for the first time since 2009.
But he pointed out that these figures are backward looking. "It is the past," he told the BBC.
"We are now talking about the fourth quarter already and there the figures show that things are not looking as good."
'Negative growth''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.
Figures released in the past week from the eurozone's hardest hit economies show that the Spanish economy contracted by 0.3% between June and September and Portugal by 0.8%.Figures released in the past week from the eurozone's hardest hit economies show that the Spanish economy contracted by 0.3% between June and September and Portugal by 0.8%.
Greece said on Monday that its economy had contracted by 7.2% in the third quarter compared with a year earlier. It did not give a comparison with the preceding three months.Greece said on Monday that its economy had contracted by 7.2% in the third quarter compared with a year earlier. It did not give a comparison with the preceding three months.