German government forecasts modest growth at best in 4th quarter after fall in production

The Associated Press 0

BERLIN – Germany’s Economy Ministry says the country will see “moderate growth at most” in the fourth quarter after industrial production declined in October.

In its monthly report issued Wednesday, the ministry said conditions have improved for an upswing carried by domestic demand but significant risks remain, most of them from abroad.

Quarter-on-quarter growth in Germany, Europe’s biggest economy, slowed to 0.3 per cent in the third quarter from 0.7 per cent in the April-June period. Though its recent performance has been unspectacular, it’s better than most in the euro area and it’s expected to accelerate next year.

Official data this week showed that German exports and imports grew in October but industrial production was down 1.2 per cent compared with the previous month, a second consecutive fall. Industrial orders were also down.

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