Germany GDP Up, France GDP Flat

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Yesterday was marked by data on economic development in the 1st quarter released in Germany and France.

As the statistics showed, in the first three months of 2012 the GDP of Germany grew by 0.5% on a quarterly basis, while analysts had foreseen an increase by 0.1%.

As compared to the 2011 reporting period, the economy of Germany gained 1.7%, exceeding the expectation of 0.8% almost twice. The positive GDP dynamics was significantly supported by more exports and increased domestic consumption. In addition, the situation on the national labour market grew brighter.

As far as France concerned, its data appeared to be leaner. So, in the 1st quarter its GDP remained at the same level as in the period from October to December, 2011.

In the 4th quarter the key indicator advanced by 0.1% versus the previous quarter. Analysts had predicted zero growth.

On an annual basis, the economy of France expanded by 0.3%, weaker than a projected increase by 0.5%. In contrast, in the 4th quarter France GDP was rising much faster: it grew by 1,2% then.

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