FXstreet.com (Barcelona) - German gross domestic product has continued growing in the last quarter of 2007, according to Destatis, although economic growth started to slowdown considerably towards the year end.
In the last three months of the year, gross domestic product has grown 0.3%, as widely forecasted by the experts, supported by foreign trade and gross fixed capital formation, with net exports contributing with 0.7%, as exports rose 1.3% and imports declined 0.2% on the quarter. In the domestic area, growth came from gross fixed capital formation in machinery and equipment, which rose 3.4% on the quarte, while capital mformation in construction fell 1.1%. Final consumption expenditure of households contributed negatively with a 0.8% decrease, while government final consumption expenditure declined 0.5%.
On tye year, GDP rose 1.8% calendar adjusted; 1.6% price adjusted. For the whole 2007 german economy increased 2.5%; or 2.6% in calendar adjusted terms.