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Domestic demand revives German economy

Xinhua, February 24, 2015 Adjust font size:

The German economy regained its momentum in the fourth quarter of last year thanks to strong domestic demand, official data showed on Tuesday.

Europe's biggest economy grew by 0.7 percent in the last three months of 2014, said German federal statistical office Destatis, confirming its earlier estimation.

Positive contributions mainly came from domestic demand, which contributed 0.5 percentage points to the growth of gross domestic product (GDP), according to the Wiesbaden-based institute.

Household consumption rose by 0.8 percent quarter on quarter, government consumption increased by 0.2 percent, while investment expanded by 1.2 percent.

Foreign trade also powered economic growth, contributing 0.2 percentage points to the GDP increase, Destatis said. Endi