SPIEGEL ONLINE INTERNATIONAL: Despite the European debt crisis, the German economy chalked up impressive growth during the third quarter. With economies stagnating or contracting elsewhere in the euro zone, however, economists are warning output will likely cool down this winter, with the possibility of a mild recession.
The debt crisis has been a burden for almost all of Europe, but Germany continues to dodge the worst economic side-effects. Gross domestic product jumped considerably in the country between July and September, growing by 0.5 percent over the previous quarter. On Tuesday, the German Federal Statistical Office released its first estimate showing that GDP grew by 2.6 percent compared with the same period the previous year.
The Statistical Office has also revised its figures for spring, indicating that growth was stronger than previously assumed. During the period, GDP grew by 0.3 percent instead of the 0.1 percent previously assumed. » | dsl -- with wires | Tuesday, November 15, 2011
