13-Jan-2011 1:38 PM

German economy expands at fastest pace in two decades

Germany's Federal Statistics Office stated (12-Jan-2011) the German economy grew again strongly in 2010. With a 3.6% increase, the price-adjusted gross domestic product (GDP) was the largest since reunification. The economic recovery occurred mainly in spring and summer of 2010. A year earlier, Germany had still experienced the most serious recession since World War II. The price-adjusted GDP slumped heavily by 4.7% in 2009. Domestic demand was the main contributor to GDP growth, adding 2.5ppts.