HomeLive CommentsGerman economy grew 1.5% in 2018, slowest since 2013

German economy grew 1.5% in 2018, slowest since 2013

The German Federal Statistical Office said the German economy grew 1.5% in 2018 as a whole. And that was above the 1.2% average growth rate of the last 10 years. It’s the ninth year of growth in a row. But Destatis noted that “growth has lost momentum”. German economy grew 2.2% in both 2017 and 2016, and 1.7% in 2015. And the pace was slowest since 2013.

Positive contributions came mainly from domestic demand. Household final consumption expenditure rose 1.0%. Government final consumption expenditure rose 1.1%. But both were notably slower than growth rate back in the past three years. Exports grew 2.7% while imports grew 3.4%. Full release here.

The Economy Ministry said the slowdown was due to weaker global economy, car industry’s sales problem, outbreak of flu and strikes. It’s optimistic that the economy will likely expand at the start of 2019. However, Euro drops notably today on worries that Germany was in a technical recession with contraction in last Q3 and Q4

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