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.
Will CPI and Consumer Data Signal a Q2 Rebound?
Headline and Yo-Yo Syndrome takes grip
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Craig Erlam
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