The German economy grew by 0.7 percent in the third quarter of 2010, according to a report by the German Federal Statistics Office. The latest data was a slower pace of growth than the second quarter which rose by 2.3 percent from the first quarter. German exports increased by 2.3 percent in the third quarter while investment in equipment rose by 3.7 percent.
Economic forecasts were on the mark as they had expected that today’s GDP numbers would advance by 0.7 percent.
On an annual basis, GDP grew at an annual rate of 3.9 percent in the third quarter from the third quarter of 2009 following a second quarter annual rise by 4.3 percent.