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| German economy sees strong growth | German economy sees strong growth |
| (34 minutes later) | |
| The risk of Germany slipping into recession has eased after surprise growth of 0.7% in the last three months of 2014, analysts say. | The risk of Germany slipping into recession has eased after surprise growth of 0.7% in the last three months of 2014, analysts say. |
| While the economy shrank 0.1% in the third quarter, the economy gained momentum in the fourth quarter, the Federal Statistical Office said. | While the economy shrank 0.1% in the third quarter, the economy gained momentum in the fourth quarter, the Federal Statistical Office said. |
| Domestic demand drove growth in the fourth quarter, it said. | Domestic demand drove growth in the fourth quarter, it said. |
| An analyst described Germany's growth as "a thunderbolt", with recovery starting earlier than expected. | |
| However, France's economy grew by just 0.1% in the fourth quarter, with the economy expanding by just 0.4% over 2014 as a whole. | However, France's economy grew by just 0.1% in the fourth quarter, with the economy expanding by just 0.4% over 2014 as a whole. |
| "It's obviously still too weak, but the conditions are ripe to permit a cleaner start of activity in 2015," said French Finance Minister Michel Sapin. | "It's obviously still too weak, but the conditions are ripe to permit a cleaner start of activity in 2015," said French Finance Minister Michel Sapin. |
| Picking up | |
| Germany's 0.7% growth in the fourth quarter meant that the economy grew by 1.6% during the whole of 2014. | |
| As in previous quarters, consumer spending boosted growth in the last three months of 2014, but business investment was also strong, particularly in equipment and construction. | |
| Imports and exports also rose by more than expected. | |
| Berenberg Bank economist Christian Schulz suggested cheaper oil, a weaker euro exchange rate and government bond buying by the European Central Bank (ECB) should all help the German economy and "more than offset the serious short-term risks such as Greece and Russia". | |
| "While the first half of 2015 could still be a little more subdued due to these risks, we expect German growth to reach trend levels a bit above 2% in the summer 2015." |