German GDP Grows in 2004 by 1.7 Percent
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Germany experienced the strongest growth in four years in 2004, but weak consumer spending continued to hamper Europe's largest economy, the government statistics office said Thursday.
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The German economy, the biggest in the 12-country eurozone, is currently in party mood, with business confidence at its highest level since unification 16 years ago.
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The German economy, Europe's biggest, is currently running up one record after another.
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The German economy, the biggest in Europe, beat all growth expectations in 2006, on surprising performance in the fourth quarter, official data showed.
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The Bundesbank expects the German economy to grow by around 2.75 percent this year, thereby providing &quot;substantial impulses&quot; for the 12-country eurozone as a whole, the German central bank's president Axel Weber said.
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Strong export demand helps the German economy pick up, while the budget deficit continues to top EU limits.
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It was the fastest pace of growth since records began for reunited Germany in 1991, according to official figures yesterday.
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Germany's jobless rate rose to nearly 11 percent in December, the government's labor office said Tuesday, the same day that France said its growth stalled in the third quarter.
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The British economy has grown by 2.7 percent in 2006, in line with an initial estimate given last month.
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The German economic outlook has rarely looked sunnier, with sky-high business confidence and growth strong enough to shrug off a sharp rise in sales tax early this year, data showed on Thursday.
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Consumer prices rose 7.1 percent, the largest increase in more than a decade.
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Germany has slashed its public deficit to 1.7 percent of output in 2006 -- much lower than originally estimated -- thanks to the booming economy, official data showed on Thursday.
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Consumer confidence in Germany, Europe's largest economy, rose for the first month in three after growth accelerated in the second quarter, a survey this month by the market research company GfK AG shows.
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MUNICH - German business confidence recorded a surprise jump in December, a survey of 7,000 executives released on Friday showed, rebounding to its highest level in eight months and underscoring optimism that Europe&#39;s biggest economy will remain on a
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Germany's public deficit amounted to 4.0 percent of gross domestic product in the first six months of the current year, well above the EU limit of 3.0 percent, official data showed.
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The countryâs gross domestic product (GDP), which serves as the main barometer of the economy, expanded by 6.5 percent in the first three quarters of 2004, capped by a 6.3-percent
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The number of people looking for work in Germany, the biggest eurozone economy, rose to its highest level in seven years as the bad weather and sluggish growth caused dole queues to swell at the end of last year, official data showed.