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German economy expands by 0.4 pct in 2013

English.news.cn   2014-01-15 17:58:36

BERLIN, Jan. 15 (Xinhua) -- Germany's gross domestic product (GDP) increased 0.4 percent in 2013, the Federal Statistical Office (Destatis)said Wednesday.

The economy grew at a less robust pace than in 2012, when it recorded 0.7 percent growth, which itself was well down on the 3.3 percent recorded in 2011.

Consumption from private households and government were the main engines of the growth last year, up 0.9 percent and 1.1 percent respectively, the office said.

"Obviously, the German economy suffered from the continuing recession of some European countries and restrained growth of the global economy. The strong domestic demand could offset those factors only to a limited extent," Destatis president Roderich Egeler told a press conference.

The growth, however, was in line with the expectations of economists, who had forecast Europe's largest economy to expand by 0.4 percent to 0.5 percent.

Editor: An
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