Germany’s economy, Europe’s largest, grew 0.2 percent in the first quarter of this year as a global recovery boosted demand for its high-value exports, the Federal Statistics Office said yesterday.
The Wiesbaden agency said GDP was also helped by a 0.3 percent drop in unemployment as the country’s emergence from recession strengthened.
According to preliminary figures, GDP was up 1.7 percent in the January-to-March period of this year when compared to the first quarter of last year.
The agency also revised upward its preliminary estimate of GDP in the fourth quarter of last year, to growth of 0.2 percent. Its preliminary estimate in February indicated the economy had not grown at all during the quarter.
“Although the upward trend for the German economy in the second and third quarter of 2009 slightly slowed down, it continued despite the relatively cold and long winter,” the agency said the revised figures showed.
Overall, however, the latest calculations showed GDP decreased by 4.9 percent last year compared with the previous year.
Germany went into recession in 2008 as demand for its exports dried up amid the global economic crisis.
After shrinking for four straight quarters, including a 3.5 percent slump in the first quarter of last year, the country technically emerged from recession with growth in the second quarter of last year.
Earlier this month, the government reported that German exports jumped by 10.7 percent on the month in March and nearly a quarter on the year.
German exports totaled 85.6 billion euros in March, the Federal Statistical Office said. In year-on-year terms, that was a 23.3 percent increase.
Meanwhile, France’s economy grew 0.1 percent in the first quarter of this year, the smallest rise in a year amid stagnant consumer spending, according to preliminary figures released yesterday by the state statistics agency.
Statistics agency Insee said France’s consumer spending was flat in the January-through-March period compared with the previous quarter.
Consumer prices rose 0.3 percent last month, largely on higher energy costs, Insee said.
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