German Economy Expands At Fastest Pace In 5 Years
12 Enero 2017 - 12:36AM
RTTF2
The German economy expanded at the fastest pace in five years in
2016 on robust domestic demand amid weak trade, data published by
Destatis showed Thursday.
Gross domestic product grew 1.9 percent last year after
expanding 1.7 percent in 2015. This was the fastest expansion since
2011, when the biggest euro area economy grew 3.7 percent.
In calendar-adjusted terms, the GDP growth rate was 1.8 percent
versus 1.5 percent in 2015.
The expenditure-side breakdown of GDP showed that household
consumption climbed 2 percent from the previous year and government
spending by 4.2 percent. One of the reasons for this strong growth
was that a large number of people seeking refuge immigrated.
As a result, final consumption expenditure, one of the pillars
of economic growth, rose 2.5 percent. Capital formation also made
some contribution. Gross fixed capital formation in construction
advanced 3.1 percent and that in machinery and equipment climbed
1.7 percent.
GDP growth was damped by a reduction of inventories. The net
trade too had a negative effect on economic growth.
The general government surplus was 0.6 percent of GDP in 2016,
the third in a row.
The often controversially discussed refugee crisis and the
European Central Bank's ultra-loose monetary policy turned out to
be an economic blessing, artificially extending the long, positive
cycle of the economy, Carsten Brzeski, an ING Bank economist,
said.
The German economy urgently needs new impetus from new
structural reforms and stronger public and private investment,
Brzeski added.
In December, the Bundesbank raised the growth forecast for this
year to 1.8 percent from 1.4 percent, citing a strong labor market
and rising household incomes. The bank retained the projection for
2018 at 1.6 percent and predicted 1.5 percent expansion for
2019.
US Dollar vs CAD (FX:USDCAD)
Gráfica de Divisa
De Feb 2024 a Mar 2024
US Dollar vs CAD (FX:USDCAD)
Gráfica de Divisa
De Mar 2023 a Mar 2024