German economy grows by 1.7 percent in 2015

By: |
Berlin | January 14, 2016 3:19 PM

German authorities say the country's economy, Europe's biggest, grew by 1.7 percent last year. The performance was in line with the government's forecast.

German exports grew 5.4 percent, faster than the previous year's 4 percent.(Reuters)German exports grew 5.4 percent, faster than the previous year’s 4 percent.(Reuters)

German authorities say the country’s economy, Europe’s biggest, grew by 1.7 percent last year. The performance was in line with the government’s forecast.

The Federal Statistical Office said Thursday that growth in 2015 was slightly faster than the previous year’s 1.6 percent.

Exports grew 5.4 percent, faster than the previous year’s 4 percent. However, they were outpaced by imports, whose growth accelerated to 5.7 percent from 3.7 percent. Private consumption was up 1.9 percent.

The office did not immediately give a fourth-quarter growth estimate. It is scheduled to issue an official quarterly growth figure next month.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Exports jump to USD 30.63 bn in April; trade deficit at USD 15.1 bn
2Forex reserves up by USD 1.444 bn to USD 589.465 bn
3Rates for RoDTEP likely to be announced in 2 weeks: DGFT