By Maria Martinez
Germany's economy grew in the fourth quarter--avoiding a decline in output that some had anticipated-- according to a first estimate published Friday by the Federal Statistical Office.
Gross domestic product increased by an adjusted 0.1% from the previous quarter, according to Destatis. This beat economists' expectations of flat growth in The Wall Street Journal's survey.
"In the fourth quarter, the recovery process slowed due to the second coronavirus wave and another lockdown imposed at the end of the year," Destatis said.
GDP shrank 3.9% on year in the fourth quarter on a calendar and price-adjusted basis, Destatis said. Economists polled by The Wall Street Journal had forecast a 4.0% contraction.
The German data follows the publication of the first estimates of fourth-quarter GDP in France and Spain. The French economy posted a 1.3% contraction, while Spain's economy grew 0.4%.
Belgium will also publish GDP figures Friday.
The German statistics office will publish the final results for fourth-quarter GDP on Feb. 24.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
01-29-21 0432ET
