Germany posts 0.3 % economic growth in Q2August 14, 2012 - 14:31 AMT PanARMENIAN.Net - The German economy, Europe's biggest, beat analysts' expectations to grow by 0.3 percent in the second quarter, buoyed by rising exports and robust domestic demand, official data showed on Tuesday, Aug. 14, according to AFP. Analysts had been forecasting economic growth of just 0.2 percent for the period from April to June. Nevertheless, growth was still slower than the 0.5 percent seen in the first quarter, as Germany, too, begins to feel the effects of the long-running debt crisis that has pushed much of Europe into recession, according to the data published by the national statistics office Destatis. "Positive impulses came from both consumer spending and from net foreign trade," Destatis said in a statement. "According to preliminary data, exports grew somewhat faster than imports. Furthermore, both private and public spending was higher than in the preceding quarter, helping to offset a decline in investment," the statisticians explained. While many of Germany's eurozone partners are teetering on the edge of or already in recession, the bloc's economic powerhouse is continuing to expand, thanks largely to deep structural reforms implemented a number of years ago. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |