German government sees 'moderate' economic growth in fourth quarter
December 12, 2013, 12:05 am TWN
FRANKFURT--The German economy, Europe's biggest, will continue to grow moderately in the final quarter of this year, the economy ministry predicted on Wednesday.
“The German economy is continuing along its path of moderate growth,” the ministry wrote in its regular monthly report.
Gross domestic product grew by 0.3 percent in the period from July to September, slower than the 0.7 percent seen in the previous quarter due to sluggish exports.
Meanwhile, the rate of inflation in Germany, Europe's biggest economy, inched higher this month after hitting a three-year low the previous month, final official data showed on Wednesday.
The cost of living rose by 1.3 percent this month on an annual basis, compared with 1.2 percent in September, the federal statistics office Destatis said in a statement.
Using the Harmonised Index of Consumer Prices (HICP), the European Central Bank's inflation yardstick, the rate was measured at 1.6 percent in November, up from 1.2 percent in October.