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German economy increased by 1.7% in 2015-statistics office

German economy increased by 1.7% in 2015-statistics office

Jan 20,2016

The German economy, Europe's biggest, increased by 1.7% in 2015, moderately   faster than in the year before, the federal statistics office Destatis articulated on Thursday  

At the same time, Destatis said that Germany serrated up an excess on its public comparable to 0.5 5 percent of gross domestic product (GDP).
"The economic position in Germany in 2015 was constitutedd by solid and expected growth, said Destatis president Dieter Sarreither.

He also said that he observed improvement almost in all industrial sectors. 

And the increased economic activity was induced primarily by domestic insistence, Sarreither continued.
Consumption was the most essential growth engine in the Germany economy. Investment and foreign trade advised support to the absolute trend too, but at Lower degree.

Private consumption was increased by 1.9 percent in 2015 and government contribution was increase by 2.8 percent.

Investment in machinery and equipment progressive by 3.6 percent. 

Exports were raised by 5.4 percent and imports enlarged by 5.7 percent.

The other key factor was the robust labor market, with other than 43 million people in employment in 2015, the maximum level since consolidation in 1990.

 

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