German economy grows by disappointing 0.3 percent in 1st quarter

Economic Indicators Associated Press

The German economy grew by 0.3 percent in the first quarter, falling short of economists' expectations.

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The Federal Statistical Office said Wednesday that quarter-on-quarter growth in Europe's biggest economy slowed from 0.7 percent in the October-December period.

Economists had forecast that it would grow by 0.5 percent in the first quarter.

The statistical office said that domestic demand contributed most of the improvement, while an increase in imports outpaced export growth.