The German economy, the largest in Europe, grew somewhat stronger than previously thought in the fourth quarter of last year. This was partly due to increased investments in the construction sector and higher exports. However, there were weaker consumer spending, in connection with the lockdowns against the coronavirus.
The German Federal Statistical Office reports on the basis of a new estimate that the economy grew by 0.3 percent compared to the third quarter. Previously, a plus of 0.1 percent was reported.
Over the whole of 2020, the economic contraction in Germany was adjusted to a minus of 4.9 percent. Here, a contraction of 5 percent was reported earlier. This ended ten years of economic growth for the country. In 2019, the German economy grew by 0.6 percent.