European Economic News

German Economy To See Moderate Growth In Q4

Germany's economy ministry on Wednesday said the largest euro area economy will see a "moderate" growth in the fourth quarter.

The ministry noted that the main driving force is domestic demand, while external environment remains weak. The manufacturing sector was weak at the start of the fourth quarter, it said.

The labor market, however, continues to develop favorably as employment increases.

The economy expanded at a slower pace of 0.3 percent in the third quarter.

The Bundesbank last week lifted its growth projections for Germany citing economic momentum supported by private consumption. The central bank now expects the gross domestic product to grow 0.5 percent this year, up from the 0.3 percent growth predicted in June.

by RTTNews Staff Writer

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