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German economic growth picks up | German economic growth picks up |
(35 minutes later) | |
German economic growth picked up pace in the first three months of 2014, while France's economy failed to grow, the latest figures show. | German economic growth picked up pace in the first three months of 2014, while France's economy failed to grow, the latest figures show. |
German gross domestic product (GDP) grew by 0.8%, driven by stronger domestic demand, the country's statistics office said. | German gross domestic product (GDP) grew by 0.8%, driven by stronger domestic demand, the country's statistics office said. |
In contrast, growth in the French economy was flat, with an official figure of 0%. | |
That was put down to weak consumer spending and business investment. | |
Public spending helped to stop the French economy from contracting. | Public spending helped to stop the French economy from contracting. |
In Germany, the statistics agency Destatis, said the mild weather also helped the stronger growth. | |
"Private households and the government increased spending at the start of the year," the statement said. | |
"The trend in investment was also positive, with a sharp increase in investment in both construction and equipment," it added. | |
France's statistics agency, INSEE, said that GDP had "levelled off after a small increase" in the last three months of 2013, when the economy grew by 0.2%. | |
It said that "total domestic demand dropped and contributed negatively to activity." | |
The statement added that expenditure on food products fell, in particular on tobacco after the price increase in January. |