German Economy Expands by 2.7% In GDP

Feb. 13, 2007
Larger foreign trade and increased consumer spending.

The German economy, the biggest in the 13-country eurozone, grew by 2.7% in 2006, much faster than originally estimated as a result of better-than-expected growth in the fourth quarter, official data showed on Feb. 13.

German gross domestic product (GDP) expanded by 2.7% in 2006, the fastest rate of growth since 2000, the federal statistics office Destatis said.

On a quarterly basis, GDP grew by 0.9% in the fourth quarter from the figure for the third quarter, up from 0.8% in the preceding three months.

On a 12-month basis, gross domestic product (GDP) expanded by as much as 3.5% in the period from October to December, compared with 2.6% in the preceding three months.

"Growth impulses came from both inside and outside Germany," Destatis said. "Extremely dynamic foreign trade made the bigger contribution to the economic recovery," the statement said. But "on the domestic side, increased consumer spending, alongside rising investment, also contributed to growth."

Copyright Agence France-Presse, 2007

Popular Sponsored Recommendations

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!