German Domestic Demand Bolstered Growth in Final Quarter
- GDP breakdown shows government and private consumption rose
- Construction also supported economy while trade dragged
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Domestic demand drove German growth in the fourth quarter as trade damped Europe’s largest economy.
Private and government spending contributed 0.2 percentage point each to growth, the Federal Statistics Office in Wiesbaden said on Thursday. Net trade subtracted 0.4 percentage point from output, with a 3.1 percent increase in imports outpacing a 1.8 percent gain in exports. Gross domestic product rose a seasonally-adjusted 0.4 percent in the three months through December, matching a Feb. 14 estimate.