German, French Growth Probably Accelerated in Fourth Quarter
Published:
12 February 2004 y., Thursday
Economic growth in Germany and France, the largest of the 12 nations sharing the euro, probably accelerated in the fourth quarter as export orders prompted factories to step up production, surveys of economists showed.
German gross domestic product probably expanded 0.3 percent from the third quarter, when it grew 0.2 percent, the median forecast of 34 economists surveyed by Bloomberg News showed. The pace of French growth may have quickened to 0.5 percent from 0.4 percent, according to a separate survey of 26 economists.
Germany and France account for about half the $9 trillion economy of the euro region, which grew at the slowest pace in a decade last year. Expansion in the U.S. and Asia led Europe out of a contraction in the second quarter and has so far cushioned the effect of the euro's 20 percent appreciation against the dollar to exporters such as Volkswagen AG and Alcatel SA.
Germany's Federal Statistics Office will release the GDP report at 8 a.m. in Wiesbaden. France's statistics office, Insee, will publish its figures at 8:45 a.m. in Paris. From a year ago, the German economy may have grown 0.1 percent after contracting 0.2 percent in the previous three months. The estimates won't provide a breakdown on components of GDP.
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