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Europe’s largest economy is benefiting from rising private consumption and increased state spending on refugees, compensating for a weaker contribution from trade amid sluggish demand from major trading partners and emerging markets.
Economists polled by Reuters had expected growth in gross domestic product (GDP) of 1.8 percent for 2016 after an expansion rate of 1.7 percent in the previous year. The growth rate of 1.9 percent matched the highest forecast in the poll.
Statistics - Office - Growth - Percent - Quarter
The Statistics Office said it estimated growth was around 0.5 percent for the fourth quarter.
“The German economy in 2016 once again defied an entire series of downside risks, thanks to strong domestic demand,” said ING economist Carsten Brzeski, adding that Germany’s biggest risk now was complacency.
Economy - Impetus - Reforms - Investment
“The economy urgently needs new impetus from new structural reforms and stronger public and private investment. It is very unlikely...
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