The German Economy Barely Grew in the First Quarter of the Year

0.1 percent


Germany's economy barely grew in the first quarter of 2013 as exports and investment shrank, figures show.

But higher domestic consumption—thanks to rising wages—helped offset the declines in foreign trade and capital investment, raising hopes it will help drive a sustained recovery.

Gross domestic product rose 0.1% from the previous quarter, but contracted 1.4% compared with a year earlier.