German economic growth slowed to 0.4 per cent last year, slightly short of expectations

BERLIN – Official data show that the German economy, Europe’s biggest, grew by 0.4 per cent in 2013 — slowing compared with the previous year and falling slightly short of economists’ expectations.

The Federal Statistical Office said Wednesday that growth was down from 0.7 per cent in 2012. Economists and the government had forecast growth of 0.5 per cent.

Germany, unlike many other countries in the 18-nation eurozone, has avoided recession as the continent struggles to put its debt crisis behind it. The statistical office says growth last year was fueled primarily by domestic demand.

The economy is expected to pick up speed this year and the government’s current forecast is for growth of 1.7 per cent in 2014.

Wednesday’s preliminary figures didn’t include an official fourth-quarter growth number. That is due on Feb. 14.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles