Germany posts 0.4 per cent 4Q growth, largely driven by exports

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BERLIN – Germany’s economy continued to slowly pick up steam at the end of 2013, growing 0.4 per cent in the fourth quarter over the previous three months largely through exports, according to seasonally adjusted figures.

The Federal Statistical Office said Friday in year-on-year terms, fourth quarter gross domestic product was up 1.3 per cent, following increases of 1.1 per cent in the third quarter and 0.9 per cent in the second quarter.

The office says the “positive contributions were made mainly by foreign trade” as increases in exports were “substantially higher” than imports.

Germany’s economy, Europe’s largest, grew 0.4 per cent overall in 2013 but the government is predicting a 2014 rise of 1.8 per cent.

ING economist Carsten Brzeski says the new figures reaffirm “Germany remains the economic stronghold of the eurozone.”

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