February 23, 2018 / 7:24 AM / in a year

Foreign trade propels German fourth-quarter growth

BERLIN, Feb 23 (Reuters) - Foreign trade drove German economic growth between October and December, detailed data showed on Friday, confirming a preliminary reading of a 0.6 percent expansion in the fourth quarter.

The Federal Statistics Office said exports climbed by 2.7 percent on the quarter and imports rose by 2.0 percent, which resulted in net trade contributing 0.5 percentage points to growth.

Private consumption, which has been a key pillar of support for Europe’s largest economy in recent years, was stagnant - as was gross capital investment. Neither made any contribution to growth.

But government spending increased, adding 0.1 percentage points to growth. (Reporting by Michelle Martin; Editing by Paul Carrel)

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