France and Germany report Q4 figures

| February 15, 2011 | 0 Comments

Europe’s largest economy, Germany, looks set to be continuing its strong recovery after Federal Statistical Office, Destatis, reported the economy grew by 0.4% in the fourth quarter.

For the 2010 year, the economy expanded by 3.6%, said Destatis.

However, both figures were slightly below forecasts with economists expecting quarterly growth of 0.5% and annual growth of 4.1%.

In the meantime, France’s economy grew by 0.3% in the October to December period, Insee, the national statistical agency, said today.

For the 2010 year, the economy expanded by 1.5%. However, again this fell short of expectations but better than the 2.5% contraction reported for 2009.

However, slower growth for the quarter for both economies was expected due to the severe wintry weather in December.

Quarterly GDP figures for the euro zone will be released later today.

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