German economy soars while France sags

- Germany's Gross Domestic Product jumped 0.7 percent in fourth quarter, while French output rose only 0.1 percent.

ANKARA (AA) - German economic growth accelerated at the end of last year while France’s slowed, official statistics agencies reported Friday.

German Gross Domestic Product surged 0.7 percent in the fourth quarter after expanding 0.1 percent in the previous three months, the Federal Statistics Office in Wiesbaden said in a statement.

The French economy grew 0.1 percent in the last quarter of 2014, after seeing 0.3 percent in the July-September period, the Paris-based National Institute for Economic Studies reported.

- German consumer sentiment high

Following a dynamic start in the year, and a subsequent period of weakness last summer, the German economic situation stabilized towards the end of the year, the agency said.

The Gross Domestic Product is also 1.6 percent for the whole year of 2014, higher than the agency had forecast in January.  

Households sharply increased consumption, the agency said, boosted by the fall in energy prices.

Employment also rose one percent in Germany, the agency reported.

- French consumers didn't spend much

In France, however, growth for the entire year was 0.4 percent, the same as in 2013, the institute said.

Household consumption was moderate, up 0.2 percent in the second quarter of 2014, and 0.3 percent in the third quarter.

There was also a moderate decrease in investment throughout the year.

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