23 May 2001, 10:13  German Q1 seasonally adjusted GDP up 2.0 pct yr-on-yr

FRANKFURT (AFX) - German GDP grew in the first quarter by 2.0 pct adjusted for the number of working days, the federal statistics office said, confirming data issued by the Bundesbank yesterday. It said on an unadjusted basis GDP in the first quarter grew by 1.6 pct, the lowest level recorded since the third quarter of 1999. German GDP grew by 0.4 pct from the fourth quarter last year on a seasonally adjusted basis. The office said this is a slight improvement from the fourth quarter, where GDP grew by only 0.2 pct month on month. The Bundesbank said yesterday GDP grew by 2.0 pct year on year on a seasonally adjusted basis and "about 0.5 pct" from the fourth quarter last year.

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