Germany avoided recession in Q3 2014 after the official data for growth of GDP were published and the largest Eurozone economy grew with 0.1%. The result coincided with the preliminary estimates of the analysts and financial experts. Calculated on an annual and non-adjusted basis, the measure showed an increase of 1.2% covering the forecasts, while in Q3 2013 the upturn was 1%. In the structure of GDP, final consumption expenditure of households grew by 0.7% in the period from July to September. Exports grew by 1.9% compared with the second quarter after adjusting for seasonal adjustments. Imports even increased by 1.7% and the gross fixed capital formation decreased in the third quarter.
The forecasts of the government and ECB are the German economy to grow by only 1.2% this year, down from the previous forecast expansion of 1.8%. The forecast for 2015 is about a expansion of 1.3 per cent against expectations so far growth of 2%. The European Commission also sharply lowered its forecast for growth in the country of 2% to just 1.1% next year. Seen autumn economic forecast Brussels was published on 4 November.