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German economy lifted by domestic consumption

The domestic economy made the main contribution to Germany's robust fourth-quarter growth, data from the country's statistics office showed Tuesday.

The statistics office confirmed its earlier estimate, saying that the German economy grew by 0.7% in the fourth quarter of last year in terms adjusted for price, seasonality and calendar effects.

The data showed that consumption outlays made a 0.5 percentage point contribution to Gross Domestic Product growth in the fourth quarter. Net exports added 0.2 percentage points, the data showed.

marketwatch