German Economy Rises 0.3% in Q4

German consumers are spending again, sparking Europe’s economic engine back into life.
Fourth quarter eurozone GDP rose by 0.3%, compared with the previous quarter, thanks to a big boost to growth in Germany, the region’s biggest economy. Third quarter growth was 0.2%.

German growth accelerated to 0.7% in the fourth quarter as households recovered from a loss of confidence triggered by the Ukraine crisis in the middle of last year.

Officials noted a marked increase in consumer spending, supported by high levels of employment — there were 412,000 more Germans in work than a year earlier — rising wages and cheap oil.

“Germany is earning back its moniker as the ‘powerhouse of Europe’,” commented Tom Beevers, CEO of Stockviews.

Germany accounts for about 30% of the eurozone GDP and its economic health is vital to the region. Other countries continue to struggle, however, most notably the second and third biggest players — France and Italy.

via CNN

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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