With a growth rate of GDP over the previous quarter, the German economy grew in the year 2016 be. Buoyancy gave the mild winter and high-spending consumer.
Wiesbaden (dpa) – The German economy has turned the turbo start of the year despite the global economic slowdown.
Driven by the consumer spending of consumers and favored by the mild winter, the gross domestic product rose (BEEP) in the first quarter compared to the previous quarter 0,7 Percent, as the Federal Statistical Office announced in Wiesbaden on Friday. It was the strongest growth in two years and more than expected by economists. In the fourth quarter 2015 was the economic power nor 0,3 grown percent.
Growth engine were at the beginning, according to preliminary calculations, the authority of private consumption and government spending, among other things for the housing and integration of hundreds of thousands refugees. The construction sector benefited strongly from the mild winter. Also, business investment in equipment rose so significantly. Foreign trade, however dampened growth, as imports increased more than exports.
"On the internal dynamics is unchanged reliance, loaded again the growth during the foreign trade in a further more difficult international environment, but probably only moderately ", explained Jörg Zeuner, Chief Economist of the state development bank KfW.
Many consumers sitting money for months loose, because saving is hardly rewarded and relieve the lower energy prices, households additionally. Wages and pensions rise and inflation is in the basement – in April, consumer prices in January fell for the first time 2015 even again. The inflation rate was at 0,1 Percent lower than last month.
the buying mood of consumers will Buoyed by the favorable situation on the labor market. In April, the unemployment rate in Germany fell to its lowest level this month since 25 years.
Also yoy, the German economy grew: The price-adjusted GDP rose by 1,3 Percent, calendar-adjusted 1,6 Percent, as one working day less was available than a year earlier.
Commerzbank chief economist Joerg Kraemer however warned against excessive euphoria. Construction output was due to the unusually mild winter in order 3,4 Increased percent. "This should economic growth in the first quarter by about 0,3 have oversubscribed percentage points. "
economists expect, that the German economy can not maintain its high pace in the second quarter. In contrast, say among other things, the weak demand from emerging markets and the decline in boost the euro depreciation of the year 2014, argued Krämer. China as a buyer of products "Made in Germany" is weakening, Russia and Brazil are in crisis. In addition to the previously stronger euro expensive German products on the world market, which may dampen demand.
"Investments in buildings and equipment, which were weather-related preferred to the first quarter, will no longer be made in the second quarter ", explained BayernLB. The Federal Ministry of Economics expects a weaker growth from April to June.
More detailed results for the first quarter will the Federal Statistical Office on 24. publish in May.

GERMAN PRESS AGENCY
FRIDAY, 13. MAY 2016 09:23 GMT

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