German Economy Declines on Weak European Demand

Germany's economic performance declined in the fourth quarter of the year as industry reduced its production in line with weak European demand, the country's Economy Ministry said on Friday.

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The ministry added in its monthly report that the underlying strength of the German economy as well as positive signs from the global economy indicated the economy would "revive significantly" in the course of this year.

"According to indicators, one should expect a significant decline in economic performance for the final quarter of the year," the ministry said.