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German Economy Expands on Fastest Investment Growth in Two Years

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A surge in investment propelled German economic growth to its fastest pace in two years in the first quarter as mild winter weather encouraged construction.

Building activity jumped 2.3 percent at the start of the year, driving up capital investment by 1.8 percent, the Federal Statistics Office in Wiesbaden said on Tuesday. Private consumption rose 0.4 percent. Gross domestic product increased a seasonally-adjusted 0.7 percent in the January-March period, in line with a May 13 estimate.

Record-low unemployment in Germany is underpinning consumer demand, while companies are benefiting from a cyclical recovery in the 19-nation euro area driven by European Central Bank stimulus. The Bundesbank has expressed confidence that the country’s economy can retain its underlying strength, even though expansion will slow somewhat this quarter.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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