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Feb 22, 2007, 7:43 GMT

German economy ends 2006 on high note - deficit shrinks

Berlin - The German economy ended 2006 on a solid note with data released Thursday showing fourth-quarter growth coming in at a real 0.9 per cent and the nation's budget deficit shrinking last year more than expected. The country's statistics office said that Germany's budget deficit stood at 1.7 per cent, which was the first time in five years that Europe's biggest economy has met the strict 3-per-cent deficit rule for euro member states. Powered by a robust export performance and a pickup in private consumption, the healthy fourth-quarter economic growth rate helped to underpin Germany's stronger than forecast 2.7-per-cent expansion rate in 2006. © 2007 dpa - Deutsche Presse-Agentur

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