Paris: France and Germany are on growth trajectory as the statistics show in the last three months of 2013. This comes at a time when the European region has long struggled to recover from recession. Â
The economy of the 17 euro zone countries in the last quarter rose 0.3% in the three months to December against the previous three months, after a 0.1% rise in the third quarter. For the first time in almost three years the economies of the region recorded quarterly expansion.
Germany’s gross domestic product grew by 0.4% from the previous quarter, the Federal Statistics Office reported, citing stronger foreign trade. That improved upon the 0.3% growth recorded in the July-September period and was better than the 0.3% market consensus, and it works out to a roughly 1.6% annual rate of growth.
France’s gross domestic product expanded by 0.3% in the period from October through December compared with the previous three months, according to data released by Insee, the national statistical agency in Paris.