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Post by bot on Jan 11, 2012 18:26:38 GMT -5
German economy expanded 3% in 2011 from MarketWatch.com - MarketPulse FRANKFURT (MarketWatch) -- Germany's gross domestic product grew by 3% in 2011, with most of the expansion occurring in the first half of the year, the federal statistics office, Destatis, reported Wednesday. The full-year growth estimate for the euro zone's largest economy was in line with forecasts. Growth slowed from a record 3.7% expansion seen in 2010 as the economy began to bounce back from the country's steepest postwar recession, which saw the German economy contract 5.1% in 2009. Domestic demand was the main pillar of 2011 economic growth, with household consumption growing 1.5%. The economy also saw strong upward momentum in capital formation while foreign trade added 0.8 percentage points to 2011 growth.
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