German economy grows 0.3%

German economy grows 0.3%

Germany’s economy grew 0.3% in the second quarter, despite the eurozone’s woes.

The Federal Statistical Office said Europe’s largest economy was helped by both consumer consumption and the balance of exports and imports.

The growth was slightly higher than the 0.2% gain in gross domestic product predicted by many economists, but still represents a slowdown from the 0.5% growth in the first quarter.

The government is predicting overall growth of 0.7% this year, though others are forecasting slightly more robust gains.

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