տուն Uncategorized Germany swerves recession as economy grows 0.1pc

Germany swerves recession as economy grows 0.1pc

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The German economy eked out 0.1pc of growth in the third quarter, warding off the threat of a triple-dip recession.

Economists had feared for the eurozone’s biggest economy after a string of anaemic survey results suggested that German growth had stalled.

A contraction in the third quarter would have taken Germany into recession for the third time in six years.

The threat of this possibility was heightened last month after the country’s influential Zew think tank’s survey of economic sentiment fell into negative territory for the first time in two years.

The quarterly expansion, which was driven by a rise in consumer spending and a small increase in foreign trade, brought the annual growth rate to 1.2pc, Telegraph informs.