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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