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Germany sees 2.2% GDP growth in Q2

08-25-2010 10:59 BJT

Surging exports and a return to growth in consumer spending powered the German economy to record expansion in the second quarter, producing a broad-based recovery that puts Europe's largest economy ahead of its peers.

The 2.2 percent increase in gross domestic product was the fastest quarterly growth rate seen in 2 decades. Consumer spending grew over the quarter for the first time in a year. It grew by 0.6 percent on the quarter.

The return to growth in private consumption suggests the economy could keep expanding in the second half of the year, even if the expansion in exports fades, as economists widely expect.

The resumption of growth in private spending followed criticism by some countries, including France, that Germany hasn't done enough to stimulate domestic demand, from which its peers' exports could benefit.

Editor:Xiong Qu |Source: CNTV.CN

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