Germany keeps up meagre growth in third quarter on exports and consumption

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November 23, 2012 7:00 PM EST

Exports and private consumption helped Germany to keep growing in the third quarter of the year, albeit at a slower rate than previously, as Europe's largest economy feels the pinch of the euro zone crisis.

The Federal Statistics Office on Friday confirmed that German gross domestic product growth slowed to 0.2 percent in the three months to end-October, after expanding by 0.3 percent in the second, as companies postpone investments due to the uncertainty of the crisis.

The seasonally-adjusted data showed gross capital investment made no contribution to growth in the third quarter.

Exports supported growth in the third quarter, rising 1.4 percent, while government spending gained 0.4 percent and private consumption was up 0.3 percent up.

(Reporting by Berlin bureau)

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Copyright 2012 Thomson Reuters UK. All rights reserved.

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