Germany Growth Flat in Q4 of 2013

Germany’s economy grew by a weaker-than-expected 0.4% in 2013 according to the first official estimates.

That is down from the 0.7% growth Europe’s largest economy saw in 2012.

The preliminary figure from the German statistics agency suggests Germany saw little or no growth in the final three months of the year.

However, most economists expect the economy to bounce back in 2014 with growth of up to 2%. The government is forecasting 1.7%.

Joerg Kraemer, chief economist at Commerzbank, said: “We’re expecting growth this year of 1.7%. The German economy has been picking up since the spring and the pace will pick up.”

He said improvements in the rest of the eurozone and the US – both big export markets – would help Germany to grow and outperform the rest of the eurozone “for several years to come”.

Germany’s economy has remained a strong point of the eurozone, and was credited with helping to haul the single currency bloc out of recession last year.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza