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Germany economy grows strong 0.5 percent in Q1
Added At: 2012-05-15 12:40 PM
Last Updated At: 2012-05-15 12:40 PM
ASSOCIATED PRESS
FRANKFURT: Germany's economy grew by a stronger than expected 0.5 percent in the first three months of the year despite Europe's debt crisis.
The government statistics agency says exports helped the economy bounce back from a slight fall in output of 0.2 percent in the fourth quarter of last year.
Germany remains a standout performer despite Europe's troubles with too much debt in several countries. Unemployment is low and exports of manufactured goods such as automobiles and machinery remain robust.
Compared to the same quarter a year ago, Germany grew 1.7 percent.
The European Commission expects the economy in the 17 countries that use the euro to shrink 0.3 percent this year.
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