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Slower foreign trade drives fourth-quarter contraction in German GDP

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Cars are loaded onto ship at a shipping terminal in the harbour of Bremerhaven
© Fabian Bimmer / Reuters
Cars are loaded onto a ship at a shipping terminal in the harbour of the northern German town of Bremerhaven, late October 8, 2012. REUTERS/Fabian Bimmer
updated 2/22/2013 2:36:39 AM ET 2013-02-22T07:36:39

BERLIN (Reuters) - Foreign trade dragged Germany's economic growth lower in the fourth quarter offsetting some support from domestic demand, data showed on Friday, in a further sign the euro zone crisis is hitting Europe's largest economy hard.

The seasonally adjusted data from the Federal Statistics Office confirmed an earlier flash estimate showing Germany's gross domestic product (GDP) shrank by 0.6 percent in the last three months of 2012 versus the previous quarter.

Foreign trade deducted 0.8 percentage points from GDP while domestic demand added 0.2 percentage points.

(Reporting by Michelle Martin and Annika Breidthardt; Editing by Stephen Brown)

(c) Copyright Thomson Reuters 2013. Check for restrictions at: http://about.reuters.com/fulllegal.asp

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