German GDP grows 2.2% biggest jump in 23 years

German gross domestic product grew 2.2 percent in the second quarter, the biggest gain

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in 23 years, driven by investment and exports, the Federal Statistics Office said on Friday. Elsewhere, major economies in North America and Asia showed signs of slowing down however.

First-quarter growth was revised up to show growth of 0.5 percent, after being previously reported at 0.2 percent. Year-on-year, the economy grew by 4.1 percent in the second quarter, the data showed. This followed a revised 2.1 percent expansion in the January-March period and beat expectations for 2.4 percent growth year on year.

"Reunified Germany has never seen such quarterly growth before," a Destatis statement said in reference to the second-quarter figure.

On an annualised basis, the economy grew by 4.4 percent in the quarter it added, an eye watering figure for western Europe.

The record figure is even more notable as fears grow that the United States and now China, the Asian powerhouse, are showing distinct signs of slowing, raising questions about the overall global recovery.

While Germany normally relies on exports to underpin growth -- it is the second biggest exporter worldwide after China -- "household and government final consumption expenditure contributed to GDP (gross domestic product) growth, too," Destatis said.

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