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Wednesday 26 February 2014

Germany is continuing to rely a lot on its export sector for growth.


The Federal Statistical Office confirmed a previous estimate that Europe’s largest economy expanded by 0.4% in the fourth quarter of 2013, compared to the prior three months. Though the economic performance of Germany is better than many of the neighbors, on par 2013 was pretty weak. Full-year growth arrived at 0.4%, the slowest since 2009.
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Exports, which grew by 2.6% in the fourth quarter, compared to the prior quarter, were a main source of growth. (Imports were up a scant 0.6%.) The agency said exports accounted for 1.1 percentage points of GDP growth. In other words, without exports, the country’s economy would have contracted during the quarter.
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