German economy grew 0.3% in 4th quarter, better than thought

BERLIN (AP) — Official statistics show that the German economy grew 0.3% in last year’s fourth quarter compared with the previous three-month period — a better performance than first thought. The Federal Statistical Office had reported in late January that gross domestic product edged up 0.1% in the October-December period. Wednesday’s revision meant that last year’s overall drop in GDP was a touch less sharp than originally reported — 4.9% rather than 5%. That fall ended a decade of growth, and was the biggest decline since the financial crisis in 2009. Germany’s economy did better than several others in the 19-country eurozone as it was supported by manufacturing, which has taken less of a hit than services.