Germany's GDP Growth Fastest In Six Years
11 Janvier 2018 - 08:30AM
RTTF2
The German economy expanded at the fastest pace in six years in
2017, driven by domestic demand, preliminary data from Destatis
showed Thursday.
Gross domestic product grew 2.2 percent in 2017 after expanding
1.9 percent in 2016. This was the fastest growth since 2011. The
biggest euro area economy has expanded for the eighth year in a
row.
The growth rate also exceeded the average of the last ten years
by almost a percentage point. Nonetheless, growth was below
economists' expectations of 2.4 percent.
GDP growth, on calendar adjustment, rose to 2.5 percent from 1.9
percent in the previous year. The statistical office has not
published its fourth quarter GDP data, which is due on February
14.
Looking ahead, the same fundamentals which have supported growth
in 2016 and 2017 should still be in place in 2018, Carsten Brzeski,
an ING Bank economist, said.
"The only question is how much additional stimulus low interest
rates, a relatively weak euro, strong domestic momentum and the
recent upswing of the entire Eurozone economy can still provide to
the mature cycle of the German economy," the economist added. "In
our view, still a lot."
The central bank last month raised its growth projection for
2018 to 2.5 percent from 1.7 percent.
Bundesbank President Jens Weidmann said this broad-based, robust
economic upswing is reaching an increasingly mature state, which
means that the pace of growth is likely to slow in the medium
term.
Destatis said positive contributions to growth were primarily
provided by the domestic demand in 2017.
Household consumption rose 2 percent and government expenditure
by 1.4 percent. At 3.0 percent, growth in gross fixed capital
formation was above average in 2017.
Exports increased 4.7 percent and imports by 5.2 percent. The
resulting balance of exports and imports contributed +0.2
percentage points to GDP growth.
Data showed that general government registered a surplus of EUR
38.4 billion in 2017, the fourth consecutive year with a surplus at
year-end. This was equivalent to 1.2 percent of GDP.
Euro vs Yen (FX:EURJPY)
Graphique Historique de la Devise
De Fév 2024 à Mar 2024
Euro vs Yen (FX:EURJPY)
Graphique Historique de la Devise
De Mar 2023 à Mar 2024