German economic growth slowed to 0.4 per cent last year, slightly short of expectations - InfoNews

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German economic growth slowed to 0.4 per cent last year, slightly short of expectations

January 15, 2014 - 12:07 AM

BERLIN - Official data show that the German economy, Europe's biggest, grew by 0.4 per cent in 2013 — slowing compared with the previous year and falling slightly short of economists' expectations.

The Federal Statistical Office said Wednesday that growth was down from 0.7 per cent in 2012. Economists and the government had forecast growth of 0.5 per cent.

Germany, unlike many other countries in the 18-nation eurozone, has avoided recession as the continent struggles to put its debt crisis behind it. The statistical office says growth last year was fueled primarily by domestic demand.

The economy is expected to pick up speed this year and the government's current forecast is for growth of 1.7 per cent in 2014.

Wednesday's preliminary figures didn't include an official fourth-quarter growth number. That is due on Feb. 14.

News from © The Associated Press, 2014
The Associated Press

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