German Growth Accelerates in First Quarter

German economic growth accelerated to the fastest pace in a year last quarter, underpinning assessments by Mario Draghi and the European Commission that the region’s recovery is getting stronger.

The 0.6 percent expansion, up from 0.4 percent in the previous three months, was helped by a surge in investment, a slight increase in consumer spending and a pickup in exports. Sentiment surveys signal that Europe’s largest economy maintained momentum at the start of the second quarter.

Germany’s role as driver of economic growth in the 19-nation euro area was confirmed once again as some European Central Bank officials start to debate an eventual exit from monetary stimulus. ECB President Draghi said on Wednesday that the region’s recovery has evolved into a “firming, broad-based upswing.” A day later, the European Union’s executive arm raised its prediction for growth this year.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.