German growth lost momentum

The German gross domestic product (GDP) grew by 0.7 percent in this year's third quarter, compared to the previous three months – reports the country's statistical office as a preliminary data on Friday.

The expansion of the German economy was an annual 3.9 percent in the third quarter. This is a moderation, compared to the 4.3 percent annual level of the second quarter, but surpassed the analysts' expectations, of 3.7 percent.
This year's first quarter GDP growth was 0.6 percent, compared with the previous three months and on an annual comparision it was 2.2 percent.
The German government expects a 3.4 percent economic growth for this year, which will slow down to 1.8 percent in the next year – reports privatbankar.hu.