14 February 2013 14:29 [Source: ICIS news]
DIW Berlin, which commented on official GDP data released earlier on Thursday, said that the country’s services sector was showing strength, and industrial orders and exports were picking up.
In addition, the eurozone debt crisis was weighing less heavily on companies than before, DIW said.
“Positive demand impulses from abroad, in particular from emerging economies, should prompt companies to take advantage of favourable financial terms and invest in equipment and machinery,” said DIW economist Ferdinand Fichtner.
As for the 2012 fourth quarter, the decline was primarily due to the eurozone crisis and declining European export markets, which began to create uncertainty in
However, the European Central Bank’s bond-buying programme had calmed markets and the uncertainty diminished, he added.
The decline came after sequential growth of 0.5%, 0.3% and 0.2% in the first, second and third quarters, respectively.
Compared with the fourth quarter of 2011, GDP in the fourth quarter of 2012 was up 0.1% year on year. For the full 12 months of 2012, GDP was up 0.7%.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections