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24 Feb 2015
German economy gained momentum in Q4 2014
FXStreet (Mumbai) - The data released by Destatis, the Federal Statistical Office of Germany, showed the economy in Q4 expanded 1.6% year-on-year, matching the estimate, and up from the previous quarter’s growth rate of 1.2%.
Quarter-on-quarter growth rate came-in line with the expected print of 0.7%, compared to the previous quarter’s 0.1%. In a quarter-on-quarter comparison, positive contributions mainly came from domestic demand.
External demand again grew significantly in the fourth quarter of 2014, with exports up by 1.3% compared with the third quarter. However, imports also increased by 1%, leading to a net 0.2% points addition to GDP. Meanwhile, employment rose by 412,000 persons or 1.0% on a year earlier.
Quarter-on-quarter growth rate came-in line with the expected print of 0.7%, compared to the previous quarter’s 0.1%. In a quarter-on-quarter comparison, positive contributions mainly came from domestic demand.
External demand again grew significantly in the fourth quarter of 2014, with exports up by 1.3% compared with the third quarter. However, imports also increased by 1%, leading to a net 0.2% points addition to GDP. Meanwhile, employment rose by 412,000 persons or 1.0% on a year earlier.