Germany expects only modest 4th-quarter growth

AP News
Posted: Dec 11, 2013 4:59 AM

BERLIN (AP) — Germany's Economy Ministry says the country will see "moderate growth at most" in the fourth quarter after industrial production declined in October.

In its monthly report issued Wednesday, the ministry said conditions have improved for an upswing carried by domestic demand but significant risks remain, most of them from abroad.

Quarter-on-quarter growth in Germany, Europe's biggest economy, slowed to 0.3 percent in the third quarter from 0.7 percent in the April-June period. Though its recent performance has been unspectacular, it's better than most in the euro area and it's expected to accelerate next year.

Official data this week showed that German exports and imports grew in October but industrial production was down 1.2 percent compared with the previous month, a second consecutive fall. Industrial orders were also down.