Foreign trade propelled growth in Europe's largest economy in the fourth quarter while domestic demand, which had been a key growth driver throughout the rest of the year, was a drag. Seasonally-adjusted data from the Federal Statistics Office on Tuesday confirmed an earlier flash estimate showing German gross domestic product (GDP) increased by a modest 0.4 percent on the quarter between October and December compared with 0.3 percent during the previous three months. A detailed breakdown showed domestic demand subtracted 0.7 percentage points from growth while foreign trade, which had been weak for much of 2013, added 1.1 percentage points to GDP. The statistics office said the domestic economy sent "mixed signals".
via Business News - Yahoo Finance http://ift.tt/1o2Pp0j
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