Germany’s Economy is Growing

Germany just reported 2.2% GDP growth in the second quarter and all of Europe is hoping that it will lead the way in economic recovery.

This rate is the fastest pace seen in Germany in two decades. Comparing to the UK, it is double the 1.1% improvement in the same quarter.

The main factor of the growth is high demand for German exports which was helped by a weaker euro.

The German economy shrank by 4.9% in 2009 – its worst experience since the WWII.

Destatis, the German Federal Statistical Office, said: “The recovery of the German economy, which lost momentum at the turn of 2009/2010 is really back on track.”

As an example, French economy grew by 0.6% in the quarter, compared with growth if 0.2% in the first three months of the year. Regarding Spain, it economic growth showed the result of 0.2% in the second quarter, compared with growth of 0.1% in the previous three months.

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