German Growth Accelerates in First Quarter

May 12, 2017 Share Print 0

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

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 BNN. 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.