19 February 2004, 10:16  German Q4 2003 GDP confirmed at +0.2% q/q

BERLIN, Feb 19 - Germany's economy barely grew in the fourth quarter of last year, as imports increased faster than exports and consumer spending remained sluggish, data from the Federal Statistics Office showed on Thursday. Gross domestic product in Europe's biggest economy expanded by 0.2 percent from the previous quarter, the Office said, confirming an estimate published earlier this month. Compared with the fourth quarter of 2002, GDP also grew 0.2 percent. Net trade was a drag on the economy in the final three months of last year, slicing 0.7 percentage points off the growth rate, the Office said. Exports increased at a rate of 0.3 percent from the third quarter, slower than a gain in imports of 2.7 percent. Private consumption fell by 0.4 percent quarter-on-quarter and government consumption dropped 0.2 percent, the Office said.//

© 1999-2024 Forex EuroClub
All rights reserved