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Surprise: Germany in record growth

Germany's economy grew at the fastest rate since reunification in the second quarter as companies stepped up investment and exports surged, providing fresh evidence that the recovery has shifted up a gear.

Updated on: Aug 14, 2010 12:12 AM IST
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Germany's economy grew at the fastest rate since reunification in the second quarter as companies stepped up investment and exports surged, providing fresh evidence that the recovery has shifted up a gear.

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HT Image

Gross domestic product grew 2.2 per cent on the quarter.

First-quarter growth was also revised up to 0.5 per cent from 0.2 previously, Federal Statistics figures showed on Friday.

Economy Minister Rainer Bruederle said growth of well over 2 per cent was now possible for the full year — far above the government's official forecast of 1.4 per cent.

Several economists said they expected the economy —Europe's largest — could grow by at least 3 per cent this year, as did the country's Ifo economic institute said.

 
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