Minister Brüderle: "The economic recovery continues to make advances"

In the third quarter of 2009, Germany's gross domestic product (GDP) grew by 0.7 percent over the previous quarter. This figure - which has been adjusted for price, calendar and seasonal variations - is drawn from the preliminary estimate published today by the Federal Statistical Office. In year-on-year terms, GDP is down by 4.7 percent in real terms and by 4.8 percent in calendar-adjusted terms. The government's stimulus measures appear to have had a positive impact on the economy in the third quarter as well. Compared to a year earlier, total employment was down by about 81,000 in the third quarter of 2009.

Rainer Brüderle, Federal Minister of Economics and Technology, stated: "The advancing recovery of Germany's economy is in line with our expectations, and this is a development that is both satisfying and encouraging. However, given the severity of the financial and economic crisis, we are not yet out of danger. For this reason, we must take a far-sighted and pro-active approach to overcome the crisis. This means that we now need to shift from acute crisis management to policies that will achieve sustained, strong growth.

Tax policy plays a central role in these efforts. The government's new Growth Acceleration Act provides relief to citizens and businesses. And this will strengthen people's motivation and willingness to work hard, thereby unleashing additional forces for growth."