Germany to record slower growth in Q2
Print Edition
THE German economy, Europe’s biggest, will book slower growth in the second quarter, after a robust start to the year, but the recovery remains intact, data showed yesterday.
Industrial output expanded only slightly in April, weighed down by a drop in construction activity, data compiled the economy ministry showed.
Nevertheless, exports rose strongly, causing the country’s trade surplus to expand.
And the German central bank or Bundesbank upgraded its forecast for the whole year, saying the economy was on a “robust growth path.”
“The German economy made a very buoyant start to 2014,” the Bundesbank said.
“Even if it does not maintain the high rate of growth seen in the first quarter, the Bundesbank’s economists are still confident about Germany’s growth prospects,” it said, pointing to strong domestic demand and an improvement in the economic situation of the industrial countries.
“The gradual recovery of the euro area suggests that Germany will follow a robust growth path,” said Bundesbank chief Jens Weidmann.
The figures were published the day after the European Central Bank made major announcements of measures to boost the amount of cash in the eurozone economy.
The main decision was to charge banks for parking cash with the ECB, essentially to ward off deflation but with the parallel objective of stimulating activity, since the recovery in most eurozone countries is trailing behind Germany.
According to the Bundesbank’s latest forecasts, Germany’s economy was projected to grow by 1.9 percent in 2014, 2 percent in 2015, and 1.8 percent in 2016.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
