Germany’s Economy Grows 2.3% Year on Year

The German economy posted 0.8 percent growth in the first three months of this year as households and the government upped their spending.  Year-on-year, Germany’s economy grew 2.3 percent, the largest increase in over two years, Germany’s Federal Statistic Office said on Thursday. Growth in the last three quarters of 2013 came in at 0.4 percent.

Data released earlier showed the French economy failed to grow in the first quarter of this year after household expenditure and exports slowed considerably, after registering slight growth in the previous quarter.

The preliminary data showed first-quarter gross domestic product (GDP) came in at 0.0 percent after 0.2 percent growth in the fourth quarter of 2013, according to INSEE, France’s national statistics office.

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