Germany pulled out of its second recession in two years in the third quarter amid a pick-up in export demand, data showed today.
Europe's biggest economy expanded 0.2 per cent in the July to September period, the first growth since the same quarter a year earlier, the Federal Statistics Office said.
But the figures also showed the economy shrank more than previously reported in the second quarter. Gross domestic product declined by 0.2 per cent, more than the 0.1 per cent drop originally reported and after a contraction of 0.2 per cent in the first quarter.
"The German economy has now moved into first gear," said Mr Andreas Rees, an economist at HVB Group. "We see the economy picking up the pace of growth, but not at a massive rate."
Due to the second-quarter revision, Mr Rees revised his forecast for full-year GDP to a decline of 0.1 per cent, denting the government's hope the economy will avoid negative growth for the full year.
Germany, which accounts for a third of euro-zone output, is being helped out of recession by surging demand for its exports from Europe and the US, as global economic growth accelerates. Growth in the US economy, the world's biggest, soared to an annual rate of 7.2 per cent in the third quarter.
