Germany鈥檚 GDP picks up in Q2
Print Edition
GERMAN economic growth picked up in the second quarter of 2015, and the public finances of Europe’s economic powerhouse were firmly in the black in the first half, data showed yesterday.
German gross domestic product rose by 0.4 percent in the period from April to June, up from 0.3 percent in the first quarter, the federal statistics office Destatis said, confirming a flash estimate released earlier this month.
At the same time, Destatis calculated that Germany’s finances were firmly in the black, with the federal, regional, municipal and welfare budgets running up a combined surplus of 21.1 billion euros (US$24.4 billion) in the period from January to June.
That is equivalent to 1.4 percent of GDP, according to Destatis.
Germany’s public finances “continued to profit from the favorable employment situation and positive growth, as well as moderate spending,” Destatis said.
But Destatis warned against extrapolating the first-half figures to the year as a whole, as the budget surpluses tended to be lower in the second half of the year.
Under European Union rules, member states are not allowed to run up budget deficits of above 3 percent of overall output, but Germany’s finances were in surplus last year.
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