Germany dodges recession as economy grows 0.1% in third quarter

Germany narrowly avoids recession. The biggest European economy has grown 0.1% in the third quarter, according according to data published today by the Federal Statistical Office of Germany.

The country thus avoids the technical recession, defined as two consecutive quarters of contraction, a scenario that even the Bundesbank already took for granted. In the second quarter, the German Gross Domestic Product (GDP) fell 0.2%.

Internal consumption has been the engine of the moderate growth achieved in the third quarter, according to preliminary data. Exports also grew, while imports remained stable compared to the previous quarter. Industrial production, meanwhile, continued to fall.