German economic growth picks up
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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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Japan saw its economy grow at a faster pace than  expected in the three months to June, officials figures show.
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Germany's economy is back on a stable path of growth after three years in stagnation and is not immediately threatened by the surge in oil prices, Chancellor Gerhard Schroeder said Wednesday.
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China's supercharged economy grew by a stunning 11.5 percent in the third quarter, slowing slightly but staying on track to overtake Germany as the world's third-largest within weeks, according to data reported Thursday.
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Beijing raised its estimate of the 2006 growth rate from 10.7 percent to 11.1 percent, moving China closer to overtaking Germany as the worldâs third-largest economy.
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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 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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Germany's economy grew at its fast rate in four years during 2004, driven by strong export sales.
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Germany's jobless figure rises above five million, with unemployment now at its highest level since the 1930s.
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China's supercharged economy grew by a stunning 11.5 percent in the third quarter, slowing slightly but staying on track to overtake Germany as the world's third-largest economy within weeks, according to data reported Thursday
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The German economy, Europe s largest, grew at the fastest pace in four years in 2004 as a surge in exports more than compensated for a slump in consumer spending.
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The OECD is increasing its forecast for European economic growth in 2006, as recovery is well under way.
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On Tuesday, the Organization for Economic Cooperation and Development (OECD) lifted its forecasts for the world largest economiesâ growth.
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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 chalked up its strongest performance in four years last year, thanks almost exclusively to booming global demand for German-made goods, official data showed.
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German gross domestic product grew unexpectedly strongly in the second half of last year.
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Germany&#39;s recovery slowed in the third quarter as exports slipped, with the economy growing by 0.1 percent from the previous three months, according to government figures released Thursday.