German GDP Estimate Shows Moderate Growth In Q4 2013; Quarterly Growth At 0.4%, Annual Growth At 1.4%

The German economy grew at a moderate pace in the final quarter of 2013, according to expectations and in line with a previous estimate, the second reading of Gross Domestic Product, or GDP, data from the Federal Statistical Office showed Tuesday.

On a quarterly basis, GDP grew at 0.4 percent helped mainly by growth in foreign trade, according to a statement, while annual growth (on a calendar-adjusted basis) was recorded at 1.4 percent in the fourth quarter of 2013. In comparison, the final quarter of 2012 had recorded a negative quarterly growth of 0.5 percent while annual growth had stood at 0.3 percent.

"The German economy continued to grow moderately at the end of the year," the statement noted, adding: "In the second and third quarters of 2013, too, the German economy had grown (by 0.7% and 0.3%, respectively), after a stagnation at the beginning of the year."