12 February 2010, 17:50  Germany’s economy stops growing in the last quarter of 2009

Germany’s economy unexpectedly stopped growing in the last quarter of 2009, latest figures have revealed. Compared to a growth of 0.4% in the second quarter and 0.7% in the third quarter, the GDP of the largest economy of Europe remained unchanged between October and December. The figures were below the expectations of analysts who were anticipating at least a 0.2 to 0.3 per cent growth. Exports, the only "positive contribution" to the economy, were not sufficient enough to compensate for a fall in consumer spending and investment. The German GDP shrank 2.4% compared to a year earlier, the German federal statistical office said. The fall in growth is being attributed to the extended cold weather that has hit construction activity and an end to government support measures. Germany's economy is heavily dependent on exports and was hit hard last year due to the global financial meltdown. The economy of France on the other hand grew 0.6% in the fourth quarter, better that what the economists had forecast, due to a rise in household consumption

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