German 1Q GDP grows robust 0.8 pct

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Associated Press

Posted on May 15, 2014 at 1:05 AM

Updated Thursday, May 15 at 1:06 AM

BERLIN (AP) — Germany's economy grew a robust 0.8 percent in the first quarter of 2014, doubling the rate of the previous quarter with help from mild winter weather and a strong labor market.

The Federal Statistical Office said Thursday the figure, which was adjusted for seasonal and calendar factors, shows Europe's strongest economy is gaining momentum. A detailed breakdown of the figures isn't available until the end of the month.

ING economist Carsten Brzeski says two opposing trends will affect the future growth. He says the strong labor market and the construction sector should support growth, but economic weakness from France, the crisis in Ukraine, and the Chinese slowdown will hurt it.

In all, he says "some slowdown to more normal growth rates is in the offing."

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