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German economy grew 0.6% in Q4'17

Germany's GDP grew by 0.6% in the last quarter of 2017, helping full-year growth rise to 2.5%, final data from the Federal Statistical Office showed, confirming a previous release.

Domestic and foreign demand led the acceleration of annual growth, up from 1.9% in 2016, as household consumption expenditure grew by 1.2% and government consumption expenditure was up 1.6%.

The fourth quarter was boosted by a 2.7% rise in exports, outpacing the 2.0% gain in imports. Household consumption expenditure remained relatively stable while gross fixed capital formation in construction shed 0.4% quarter over quarter.

Employment during the quarter rose by 1.5% on a yearly basis, or 642,000 people, to roughly 44.7 million people.

Third-quarter 2017 GDP growth in the country was 0.7%.