Foreign Trade Boosts German Economic Growth

February 25, 2014 Share Print 0

Germany’s economic growth in the final three months of last year was largely driven by overseas trade, according to official statistics.

The German economy grew by 0.4% in the quarter compared with the third quarter, the German statistics agency said, confirming its earlier estimate.

Foreign trade drove the increase, accounting for 1.1 percentage points of the rise in gross domestic product.

However, weak domestic demand cut 0.7 percentage points from the figure.

The balance of exports and imports was the “key economic engine in the period”, the statistics office said.

Despite the weak domestic demand at the end of last year, economists said they now expected it to pick up.

via BBC

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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.