--German MOF: Foreign trade main driving force behind GDP rise
--German MOF: Conditions for continuing upswing still favorable
--German MOF sees "tight monetary policy in Europe"
--German MOF says German growth dynamic likely to slow in 2001
By BridgeNews
Berlin--Jan. 11--Gross domestic product rose a real 3.1% in 2000 compared to the 1.6% rise in 1999, German Finance Ministry said in a statement Thursday.
The increase is slightly above expectations with a Bridge Fokus Deutschland survey of economists pegging GDP to rise by 3.0% on year. The Ministry said important growth impetus arose from foreign trade. It added that while it sees conditions for growth remaining favorable, growth is likely to slow this year.
* * * "The economic conditions for the economic upswing to continue remain favorable. However, the dynamic is likely to slightly slow down this year due to an easing foreign trade impetus, the easing of effects arising from a weakening of the euro and the tight monetary policy in Europe," the Ministry said in a statement.
The announcement of GDP anticipated the planned release of the Statistics Office later this morning.