German economy grows moderately in last quarter of 2016

German economy grows moderately in last quarter of 2016

The figures released Tuesday show that gross domestic product rose by 0.4 percent in the fourth quarter of 2016. Still, it marked a sharp rebound after the German economy barely expanded over the summer months.

It was revealed the eurozone's largest economy Germany appears to already be hit by uncertainty, with fourth quarter growth also coming in at a lower than expected 0.4 per cent. "Growth drivers will be similar in 2017". Many economists have expressed concern about the long-term health of the German economy as its open door policies on immigration have cost the government billions of dollars. "The outlook for the global economy remains subdued".

The index for investors' future expectations fell by 6.2 points to 10.4 points last month, Mannheim-based ZEW said in a statement.

The Current Conditions Index dropped to 76.4 this month from 77.3 in January, worse than expectations for a reading of 77.2. This was also weaker than the Reuters consensus forecast which predicted a almost stable reading of 77.2.

"Nevertheless, the economic environment in Germany has not significantly worsened", Wambach added.


Pantheon Macroeconomics said: "We don't get any numerical details, but we think the final estimate for EZ GDP will show that domestic demand-especially investment-was the key driving force of the rise in Q4 GDP".

On a year-on-year basis, growth for the 19 countries using the euro slowed to 1.7 percent from the 1.8 percent recorded in the third quarter.

This was the highest annual inflation rate since July 2013.

The growth of the inflation rate in the first month of the year was mainly driven by the development of energy prices, which were markedly up by 5.9 percent in January 2017 compared with a year earlier.

"The economic situation in Germany in 2016 thus was characterised by solid and steady growth", Destatis commented.

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