Germany grows unexpectedly; inflation rises 10.4%.
- Official numbers released Friday indicated a surprising third-quarter growth in the German economy, driven by private spending. Inflation rose again in October, threatening Europe’s largest economy.
- The Federal Statistical Office reported a 0.3% increase in GDP in the July-September quarter. That follows a 0.1% second-quarter rise.
- The statistics office said that the German economy was steady despite the COVID-19 epidemic, supply chain disruptions, increased costs, and the Ukraine crisis.
- Last week, lawmakers authorised the government to offer up to 200 billion euros ($195 billion) in energy price subsidies to individuals and companies through 2024.
- On Friday, parliament’s upper chamber gave its assent. That plan’s details aren’t yet finalised.