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German economy shrank 0.2 percent in 4Q 2011

German economy shrank 0.2 percent in 4Q 2011

February 15th, 2012 in News

BERLIN (AP) - Germany's Federal Statistical Office says the country's economy slipped into reverse in the last quarter of 2011, with gross domestic product falling 0.2 percent according to adjusted figures.

The drop in Europe's largest economy was slightly less than the 0.25 percent that had been expected, and the Statistical Office said Wednesday that the economy grew 3 percent overall in 2011, in line with preliminary figures released last month.

The government is predicting a return to 0.1 percent growth in the first quarter of 2012, and expects 0.7 percent growth overall for the year.