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23 February

By Ahmed Mamdouh

Category: FX Graph

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German economy finishes 2017 on strong footing

The final gross domestic product reading released on Friday confirmed the German economy finished last year on a strong pace, bolstered by surging exports.

Europe’s biggest economy expanded 0.6 percent in the fourth quarter last year, slowing slightly from a 0.7 percent growth in the previous three months.

Overseas sales edged up a robust 2.7 percent, compared to a 2 percent increase in imports.

The German economy managed to finish last year on a strong footing despite the political woes after Parliamentary elections showed inconclusive result.

As of 09:14 GMT, the euro traded slightly lower at $1.2319, where it snapped some of its earlier losses when it tumbled to a session low of $1.2279.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.