The German economy expanded unexpected in the third quarter, underpinned by household and government consumption, preliminary estimate from Destatis showed Wednesday.
Gross domestic product grew 0.2 percent from a quarter ago, in contrast to the revised 0.3 percent contraction posted in the second quarter. GDP was expected to fall 0.1 percent.
With the latest growth, the largest euro area economy avoided a technical recession.
On a yearly basis, calendar-adjusted GDP logged an expansion of 0.2 percent, reversing the second quarter’s 0.3 percent decline.
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