Domestic demand has Germany back on track

Germany's federal statistics office has revealed that the country's economy expanded by 1.5% last year, beating expectations. A strong start to 2014 bolstered the data, but nevertheless beat the government's own projection of 1.2% and was sharply improved from the 0.1% growth a year earlier. Germany can also boast a surplus in its public finances equivalent to 0.4% of GDP. Exports were up by 3.7% across the whole of last year, whilst consumer spending grew by 1.1% and public spending was up 1.0%. After two successive years of declining investment, 2014 saw it increase by 3.7%.


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