Germany sees strongest economic growth in 4 years

Germany, the third largest world economy, saw 1.0 percent economic growth in the first quarter of 2005 over the final quarter of last year, the strongest in four years, the government said Thursday.

However, the German Federal Statistics Office reported that the gross domestic product (GDP) was nominally no growth compared with the first quarter of 2004. The increase was exclusively export-driven, the report said, adding that rising exports combined with a decline in imports drove up the net surplus.

"When eliminating the calendar effect (in the first quarter of 2005, the number of working days available was by two days fewer than in the first quarter of 2004), economic growth would have been a good one percent on a year earlier," the office said.

The domestic economy remained weak with consumption going down on year term in the first quarter.

The economic performance in the first quarter of 2005 was achieved by 38.6 million persons in employment, which was an increase of 203,000 persons or 0.5 percent on a year earlier.

Source: Xinhua