German Economy Grows by 2.5% Jan 31, 2008

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The German economy grew by 2.5% last year. The preliminary 2007 growth figure, compared with the previous year's increase of 2.9% in GDP— Germany's best performance since 2000.

The Federal Statistics Office said that Germany balanced its budget last year, eliminating a budget deficit that ran at 1.6% in 2006 and in previous years breached a European Union-mandated limit of 3% of GDP.

The growth estimate for 2007 was in line with economists' forecasts, and was slightly better than the government's prediction of 2.4% .

The statistics office said German exports, a traditional strong point, grew by 8.3% last year and accounted for more than half of the growth in GDP.

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