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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: maceng2 who wrote (73462)5/12/2010 2:26:34 AM
From: Haim R. Branisteanu1 Recommendation  Read Replies (2) of 74559
 
German Economy Grew 0.2% In 1Q; 4Q Also Up

By Geoffrey T. Smith
Of DOW JONES NEWSWIRES

FRANKFURT (Dow Jones)--The German economy outstripped expectations in the first quarter, growing by a seasonally-adjusted 0.2% from the last three months of 2009, the Federal Statistics Office, or Destatis, reported Wednesday.

Destatis also revised up its estimate for the previous quarter, saying that gross domestic product--which aggregates all the goods and services produced by an economy--rose by 0.2%, rather than stagnating, as it had originally reported.

Analysts polled ahead of time by Dow Jones Newswires had expected a second successive quarter of zero growth, due largely to the adverse impact of a harsh winter on construction activity, which accounts for a large part of overall investment.

In year-on-year terms, Destatis said the economy grew by a calendar-adjusted 1.6% from the first quarter of 2009, the quarter which represented the trough of the recession that followed the 2008 financial crisis. That too was ahead of a forecast of 1.2% growth. The year-on-year figure for the fourth quarter was revised up to -2.2% from an original estimate of -2.4%.

Web site: destatis.de

-By Geoffrey T. Smith, Dow Jones Newswires
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