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November 23, 2010    

Germany issues 2nd estimate of Q3 growth

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by Kay Murchie

The recovery of Europe’s largest economy appears to be on track after Germany’s Statistics Office, Destatis, said growth in the July to September period was 0.7% - confirming an earlier estimate this month. A third and final estimate for the quarter will be available later this year.

On an annual basis, the German economy grew by a staggering 3.9%.

Export demand helped to bring Germany out of recession in the second quarter of last year – much sooner than many of its counterparts throughout the world.

Private and public consumption, gross investments, as well as exports contributed to the third quarter growth, according to Destatis.

Across the Atlantic, meanwhile, the US will issue its second estimate of quarter three economic growth, with analysts expecting a slight increase.

The UK will publish its second estimate of third quarter growth later this week.

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