Thursday, 13 August 2009

German Economy is Growing Again!

According to Destatis the Federal Statistical Office the German Economy has grown in the second quarter 2009 for the first time since 1.Q of 2008. Up by 0.3 % compared to 1.Q 2009.

Household and government final consumption expenditureand also capital formation in construction exerted a positive impact compared with the previous quarter. As price-adjusted imports declined far more sharply than exports, the balance of exports and imports also had a positive effect on GDP growth. However, declining inventories had a negative effect on growth.
The economic performance in the second quarter of 2009 was achieved by 40.2 million persons in employment, which was a decrease of 25,000 persons or 0.1% on a year earlier. (Destatis)
These results have duped many experts in their pessimistic forecasts and shows the strength and stability of the German Economy and its outstanding position as an investment destination:

The overall picture for the developments in Germany in July 2009 looks promising:
Business Climate - up link
Consumer Climate - up link
Unemployment - lower than feared link

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Uwe Falkenberg

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