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German consumers boost third quarter growth


German consumers boost third quarter growth


German consumers are spending money. A sharp rise in private consumption helped the economy post modest growth and avoid recession.

The figures from Germany’s Federal Statistics Office on Tuesday confirmed an earlier flash estimate showing a 0.1 percent rise in seasonally adjusted gross domestic product. The rise in GDP was for the third quarter.

Private consumption saw its biggest increase in three years with a 0.7 percent rise quarter on quarter. Public investment was up 0.6 percent. Trade was also a support, with exports climbing at a faster pace than imports.

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