Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  February 14, 2013 09:09:48, updated

Germany - 4Q GDP fell more than expected


The German economy in Q4 of last year, according to preliminary figures fell by 0.6% compared to the previous growth of 0.2%. Market estimated decline of 0.5%. The main reason for the decline while exports and investments at the end of last year. Household consumption and government spending increased slightly.
Compared 4Q GDP grew by 0.4%. For the full year 2012, the German economy grew by 0.7% compared to 3% in 2011.

According to Bloomberg estimates, GDP of the euro area in 4Q deepened its mild recession by 0.1% in Q3 to 0.4% in Q4. Data on 4Q will be presented today around 11.h.

It is estimated that in Q1 this year, the German economy will better. The decline in Q4 was mainly due to comments by a significant increase in general uncertainty about the future development of the European debt crisis and uncertainty about the fiscal cliff in the USA.The high degree of uncertainty reduced overall demand worldwide. The first year's indicators suggest that the concerns of both the directions at the beginning of substantially evaporated, and should be not only to revive the German economy. Signs of improvement are evident in the U.S. and also in China, which are major trading partners of the EU, the core of which is just the German economy.

OECD has recently increased its estimate of this year's GDP growth to 3.4% from 2.9% previously estimated.

The decline in GDP of 0.3% recorded in 4Q12 France's economy.
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