Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  January 15, 2013 10:28:18, updated

Germany - 4Q GDP fell by 0.5% last year grew by 0.7%, less than expected


Germany 4Q GDP last year, according to preliminary estimates, the German Statistical Office declined by 0.5%.

The entire year 2012 the GDP showed growth of 0.7% compared to a growth of 3% in 2011. Market estimated average growth Europe's largest economy by 0.8%. The decline in growth is mainly due to weaker global demand limiting exports and reduce corporate investment.

Public finances recorded a surplus last year, the first since 2007, at 0.1% of GDP compared to the 2011 deficit at 0.8% of GDP. Government spending last year rose by 1%, as in 2011 and less than growth of 1.7% in 2010.
Corporate investment last year fell by 4.4%, export growth slowed to 4.1% from 7.8% in 2011.

According to the Bundesbank, the German economy avoids a recession, when will decline only in the 4Q. In 1Q13 once again grow thereby avoiding the technical definition of a recession as a decline in two consecutive quarters. For the whole of this year, German Bundesbank estimated GDP growth of 0.4%. In 2014, then its acceleration to 1.9%.
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