The German economy grew more than initially estimated in the fourth quarter driven by construction investment and exports, revised data from Destatis showed on Wednesday.
Gross domestic product grew 0.3 percent sequentially in the fourth quarter instead of 0.1 percent estimated previously. However, this was much slower than the 8.5 percent rebound seen in the third quarter due to the renewed lockdown at the end of the year.
On a yearly basis, the decline in GDP slowed to 3.7 percent from 4 percent. The fourth quarter rate was revised from -3.9 percent.
The price-adjusted GDP dropped 2.7 percent annually after easing 3.9 percent in the third quarter. According to flash estimate, GDP was down 2.9 percent in the fourth quarter.
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