German Economy Contracted in Quarter as Exports Declined
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Germany’s fourth-quarter economic contraction was caused by a decline in exports as the sovereign debt crisis damped demand across the euro region.
Exports fell 0.8 percent from the third quarter, the Federal Statistics Office in Wiesbaden said today. Gross domestic product declined 0.2 percent, the office said, confirming an initial estimate published on Feb. 15. Net trade subtracted 0.3 percentage point from GDP in the quarter, today’s detailed breakdown shows.