Germany, France economic growth exceeds expectationsFebruary 14, 2014 - 14:39 AMT PanARMENIAN.Net - Economic growth in Germany and France, the eurozone's two largest economies, marginally exceeded expectations in the fourth quarter and offered hope of a more robust 2014, according to Reuters. German growth accelerated to 0.4 percent on the quarter thanks to a rise in exports and capital investment, up from 0.3 percent in the previous three months. The French economy expanded by 0.3 percent and statistics office INSEE revised up the third quarter figure to flat from -0.1 percent. That meant France grew 0.3 percent over the course of last year, more than the government's estimate of 0.1 percent. Italy, now awaiting a new Prime Minister with Enrico Letta due to resign having been forced out by his own Democratic Party, dragged itself back to growth for the first time since mid-2011. Its economy expanded marginally by 0.1 percent. Over the whole of 2013, GDP contracted by 1.9 percent, the ISTAT statistics office said. Italy has been one of the world's most sluggish economies for more than a decade. Growth has averaged less than zero over the last 12 years. In 2014, the government forecasts growth of 1.1 percent. The German Statistics Office saw "mixed signals" from the domestic economy, which has driven growth throughout most of the year, with public expenditure stable and private consumption slightly below the level of the previous quarter. "Capital investment developed positively," the Statistics Office said. "However, a strong reduction in inventories put the brakes on economic growth." The German Economy Ministry said on Wednesday it expected gross domestic product (GDP) growth of 1.8 percent in 2014 - more than four times faster than in 2013 as a whole. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |