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German economic growth slowest for five years

German economic growth slowest for five years

Business
Germany's economy grew by 1.5% last year, its slowest rate since 2013, the latest official figures show.Figures from the Federal Statistics Office showed Europe's largest economy slowed sharply as the year wore on.A weaker global economy and problems in the car industry, caused by new pollution standards, have been cited as contributing to the slowdown.At the start of 2018, the German economy had been expected to grow by 1.8%. Growth was 2.2% in 2017.Germany's economy had shrunk in the third quarter of the year, by 0.2%, with global trade disputes blamed for the contraction.There were fears that Germany was at risk of following that with another quarter of negative growth, something that would have put the country into recession.The statistics office has ...
House price growth slowest for almost six years, says Nationwide

House price growth slowest for almost six years, says Nationwide

Business
UK house prices grew at an annual pace of 0.5% in December, the Nationwide building society has said, the slowest annual rate since February 2013.The lender says uncertainty over the economic outlook appears to be undermining confidence in the market.London and surrounding areas saw a small fall in house prices in 2018.Northern Ireland saw the biggest house price rises, up 5.8%. Prices in Wales climbed 4%, in Scotland they were up 0.9% and in England they rose 0.7%.December's growth rate, based on its own mortgage data, was a marked slowdown from the annual pace of 1.9% recorded by the Nationwide in November. The Nationwide's chief economist, Robert Gardner, told the BBC the severity of the slowdown was unexpected: "It is a little bit surprising that house price growth has slowed as much ...