As America Downgrades Growth, German GDP Blows Past Forecasts

germany

Photo: scjody via Flickr

Just after the U.S. and U.K. central banks downgraded their economic outlooks, Germany has come along and beat its previous GDP estimates.Q2 German GDP rose 2.2% sequentially, which was higher than the government’s previous 1.4% forecast, and the fastest rate in 23 years.

Bloomberg:

Year-on-year, the economy grew by 4.1 per cent in the second quarter, the data showed. This followed a revised 2.1 per cent expansion in the January-March period and beat expectations for 2.4 per cent growth year on year.

“Positive impulses … came both from the domestic economy as well as from abroad,” the Statistics Office said in a statement.

“The dynamics of investments and of exports had the biggest part in the upswing; but expenditure in private and state consumption also contributed to the growth of the GDP.”

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