– Rene Wagner and Klaus Lauer
Berlin (Reuters) – The German economy remains joyful thanks to purchase consumer spearheads the euro-zone.
The gross domestic product grew 1.5 percent in 2014 as strong as the last three years no more – despite numerous international crises, such as the Ukraine and the Middle East. “Obviously, the German economy could survive in a difficult environment and especially benefit from a strong domestic demand,” the president of the Federal Statistical Office, Roderich egeler said on Thursday in Berlin. Germany thus laid so vigorously as the entire euro zone roughly twice. And, the state began thanks to the strong economy for the third year in a row, more than he spent a: The surplus of 11.9 billion euros was the second highest since reunification
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The federal government now expects this year economic growth at a similar level. The previous forecast of 1.3 per cent should be raised to 1.4 or 1.5 percent, learned the news agency Reuters by a leading coalition of politicians. The official forecast will be published on 28 January.
guarantees the robust economy, the consumer. Record employment, rising wages and low interest rates, triggered at their consumption in the past year: This expenditure increased by 1.1 percent. “The consumption was the most important engine of growth,” said egeler. He is expected to remain so this year, as all experts expect a further increase in employment and expect a multi-billion dollar relief by falling gasoline prices. “If it remai ns in this constellation, 2015 will be better than previously expected,” said the chief economist of the state development bank KfW, Zeuner.
Exports of goods and services grew at 3.7 percent, slightly faster than imports. “Exports show remarkably robust,” said the chief executive of German Chambers of Industry and Commerce (DIHK), Martin Wansleben. A better performance prevented, for example, the sanctions against Russia in the wake of the Ukraine-conflict and poor demand from many euro countries. In addition, companies invested more in equipment such as machinery and vehicles, as well as roads and buildings.
The economy demands that the government putting more money into the infrastructure needs – from roads to fast Internet connections. A backlash to it would have made federal, state and local governments and social security in 2014 but again in the black. “Since the reunification of Germany there has been an increase in the surplus only in 2000,” said Bureau of Statistics chief egeler. “At that time, however, due to high-offs proceeds from the sale of UMTS licenses.” Germany thus possess a “unique selling point” within the Euro-zone. Only Luxembourg could still boast a balanced budget.
reason for the positive figures are mainly the record employment and rising wages. The washed higher taxes and social contributions in the state coffers. The total revenue increased by 3.4 percent while spending rose by only 2.8 percent. Historically low interest rates are also saved many billions in costs. As a result, as the federal gov ernment since 1969 first came out with no new debt. And social security funds each managed a surplus. “Only the countries still showed a small deficit of” it said.
“The budget surplus, the government will attach to the breast, but too much can also harm economy,” said analyst Holger Submitted by Nordea Bank. “More public investment and incentives for private investment is urgently needed.” The theme will also be available in the upcoming Annual Economic Report of the Federal government at the center. “Investing for Germany and Europe’s future” is the working title for the report to the Reuters an internal discussion paper was present. The economy as a whole is “a good constitution” to certify it. But it was necessary now to improve private and public investment.
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