Germany just avoids recession, but outlook brightens

2013-05-24 46

Germany only just avoided falling into recession in the first three months of this year.

That was thanks to a rise in private consumption which compensated for declines in both exports and investment.

GDP grew by 0.1 percent, significantly less than the 0.3 percent that economists had forecast.

However German business morale did improve far more than expected in May.

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