Exports power German growth

20th November 2003, Comments 0 comments

20 November 2003 , WIESBADEN - In final official figures for the third quarter, Germany's Federal Statistics Office on Thursday said that the economy showed a 0.2 percent increase over the previous quarter. The Wiesbaden-based office confirmed its preliminary figures of a week earlier, with the gross domestic product in the third quarter being down by 0.2 percent compared with the same quarter of 2002. The third quarter 0.2 percent rise over the second quarter came after three quarters in which the German

20 November 2003

WIESBADEN - In final official figures for the third quarter, Germany's Federal Statistics Office on Thursday said that the economy showed a 0.2 percent increase over the previous quarter.

The Wiesbaden-based office confirmed its preliminary figures of a week earlier, with the gross domestic product in the third quarter being down by 0.2 percent compared with the same quarter of 2002.

The third quarter 0.2 percent rise over the second quarter came after three quarters in which the German economy had either shown no growth or had decreased by 0.2 percent, the office figures showed.

The office said the third quarter GDP rise resulted from a strong 3.2 percent increase in exports, coupled with a 1.9 percent decline in imports.

This gave the economy a 1.8 percent boost in the third quarter, just slightly surpassing the 1.6 percent drop in domestic economic performance, the office said.

In the third quarter, the German economy had 38.3 million workers, down by 479,000 or 1.2 percent from the same quarter of 2002.

Amid the rise in GDP and the decline in workers, labour productivity was up 1.1 percent year-on-year, the office figures showed.

 



DPA
Subject: German news

0 Comments To This Article