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-27420617
The article has changed 5 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
German economic growth picks up | German economic growth picks up |
(about 2 hours 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%. | 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. | 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. | 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. | "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. | "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%. | 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." | 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. | The statement added that expenditure on food products fell, in particular on tobacco after the price increase in January. |
Italy's GDP figures were more disappointing as they showed the economy shrinking again. It contracted by 0.1% in the first quarter. It had only just started growing again in the final three months of last year after the worst recession since World War Two. | |
"This is a very weak result unfortunately," said Chiara Corsa, from Italy's UniCredit bank. | |
"It's due to weakness in the industrial sector. We had expected a positive contribution from exports and domestic demand," she said. "Growth has stopped, even worse it's going backwards." |