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15 Jan 2015
German economy expanded 1.5% in 2014
FXStreet (Mumbai) - As per the official data released by Destatis, the German economy grew 1.5% in 2014, after registering a moderate growth rate of 0.1% in 2013 and 0.4% in 2012.
The details reveal final consumption expenditure was the main driving force of German economic growth. Household final consumption expenditure rose a price-adjusted 1.1%. Almost all economic sectors contributed to the stimulation of the German economy via an increase in production activity. Construction sector registered a sharp 2.7% rise in economic performance in 2014. Employment reached a record level of 42.7 million for the eighth consecutive year in 2014.
Meanwhile, general government showed a more than balanced budget for the third consecutive year. German public finances-GDP ratio registered a surplus of 0.4%.
The details reveal final consumption expenditure was the main driving force of German economic growth. Household final consumption expenditure rose a price-adjusted 1.1%. Almost all economic sectors contributed to the stimulation of the German economy via an increase in production activity. Construction sector registered a sharp 2.7% rise in economic performance in 2014. Employment reached a record level of 42.7 million for the eighth consecutive year in 2014.
Meanwhile, general government showed a more than balanced budget for the third consecutive year. German public finances-GDP ratio registered a surplus of 0.4%.