24 Nov 2012

German growth slows

7:08 am on 24 November 2012

Growth in Germany's economy slowed to 0.2% from July to September compared to the previous three months.

Federal statistics office Destatis said on Friday the latest figure was compared to growth of 0.5% in the first quarter of the year followed by second-quarter growth of 0.3%.

Exports helped drive the German economy, with an increase of 1.4% in the exports of goods and services, while imports grew by one per cent in the third quarter.

However, signals were mixed on the domestic side. Destatis said that while public and private expenditure grew, investment in machinery and equipment fell.

AFP reports the German government currently expects growth of 0.8% for 2012 and 1% next year.