14 Aug 2010

German economy bounds upwards

7:09 am on 14 August 2010

The German economy grew by 2.2% in the three months to the end of June - its fastest quarterly growth in more than 20 years.

Destatis, the national statistics office, said such growth had never been recorded before in reunified Germany.

The BBC reports the main reason was strong exports, helped by a weaker euro.

The eurozone economy grew by 1% during the quarter.

Eurostat, the official statistics agency, said this compares with growth of 0.2% in the first three months of the year.

The French economy grew by 0.6% in the second quarter, also up from 0.2%.

The Spanish economy grew by 0.2%, compared with 0.1% in the previous three months.

The pace of growth in the Italian economy remained the same, at 0.4%.

However, Greece saw its economy shrink by 1.5% during the quarter.

Britain has also reported higher-than-expected growth of 1.1% for the period.