New Times,
New Thinking.

  1. Business
  2. Economics
15 May 2012

German economy edges out of recession

0.5 per cent growth recorded in the first quarter.

By New Statesman

German GDP rose 0.5 per cent in the first quarter, returning the German economy to growth, and showing it has grown by 1.7 per cent from a year ago.

The French economy, meanwhile, recorded zero growth in the first three months of the year, and figures released later today are expected to show the eurozone as a whole has returned to recession.

The German figures were well ahead of those forecast, and show that Germany has avoided a double-dip recession. German analysts Destatis said that a rise in exports and higher domestic consumption had given the economy a boost, and had offset a decline in investment. 

Car makers are benefitting from demand in growing markets like China, and falling unemployment and rising wages are helping domestic demand. Economists hope that the change in direction in Germany will help drive the eurozone out of recession.

Select and enter your email address Your weekly guide to the best writing on ideas, politics, books and culture every Saturday. The best way to sign up for The Saturday Read is via saturdayread.substack.com The New Statesman's quick and essential guide to the news and politics of the day. The best way to sign up for Morning Call is via morningcall.substack.com
Visit our privacy Policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
THANK YOU

Content from our partners
Consulting is at the forefront of UK growth
Can green energy solutions deliver for nature and people?
"Why wouldn't you?" Joining the charge towards net zero