(ANSA-AP) - BERLIN, 14 NOV - Germany's gross domestic product
returned to modest growth in the third quarter, the Federal
Statistical Office reported Thursday, staving off a
widely-feared recession in Europe's largest economy.
The Wiesbaden-based agency said the economy grew 0.1% in the
July-September period over the previous quarter, largely driven
by public and private consumption. Exports rose as well, while
imports remained roughly at the second quarter level, the agency
reported. It said, however, that the second quarter contraction
was greater than preliminary figures had shown, with the economy
shrinking in the April-June period by 0.2% compared to the 0.1%
originally reported.
Two straight quarters of declining output is considered a
technical recession, which many economists had predicted that
Germany had entered in the third quarter. A week ago, the German
government's independent panel of economic advisers reported
that a 0.1% third-quarter contraction was likely. (ANSA-AP).
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