You are here

German GDP grew 1.7% in 2015, strongest rate in 4 years

German retail sales dipped in December, marking a weak end to the year and suggesting private consumption, which has been a pillar of support for Europe's largest economy, could lose steam in the fourth quarter.

[BERLIN] The German economy expanded by 1.7 per cent in 2015, a slight improvement on the previous year and the strongest rate in four years, a preliminary estimate from the Federal Statistics Office showed on Thursday.

Europe's largest economy is benefiting from strong private consumption and higher state spending, compensating for a weaker contribution from trade amid a slowdown in emerging markets.

Economists polled by Reuters had expected growth in gross domestic product (GDP) of 1.6 per cent for 2015.