Germany narrowly avoided a recession in the third quarter after a solid rise in private consumption and exports canceled out a slump in investment, data released Tuesday showed, dpa reported. Gross domestic product (GDP) in Europe's biggest economy grew by a meagre 0.1 per cent in the three months to the end of September, compared with a contraction of 0.1 per cent in the second quarter, the statistics office Destatis said as it confirmed preliminary data. "The German economy turned out to be stable in a difficult global economic environment," Destatis said. Private consumption rose 0.7 per cent quarter-on-quarter, posting its biggest gain in three years as higher wages and a healthy labour market encouraged household spending. Government spending was up 0.6 per cent. Exports, meanwhile, rose 1.9 per cent quarter on quarter. Imports gained 1.7 per cent.
