As was reported by the Federal Statistical Office, the German economy grew also in the fourth quarter of 2007. Economic growth, however, was less dynamic than in the previous quarter. Thus, GDP grew by just 0.3% after adjustments for price, season and calendar in the fourth quarter of 2007. In the third quarter growth had been 0.7%.
In comparison with the fourth quarter of 2006 GDP grew by 1.6% in the fourth quarter of 2007. Adjusted for calendar the growth even amounted to 1.8% given that there was one working day less in the fourth quarter of 2007 than in 2006.
The driving forces behind growth in the fourth quarter were increased investment in machinery and the trade surplus. Private consumption, however, decreased.
The economic output in the fourth quarter 2007 was generated by 40.3 million gainfully-employed people which is a plus of 617.000 people or 1.6% as compared with the fourth quarter of 2006. 