Germany's economy increases, but its not all plain sailing ahead
- 6 months ago
Germany’s economy has taken a positive turn in the first quarter of the year as it just escaped the claws of recession in 2018.
A sight which is welcomed by EU policy makers regardless of the bleak outlook on global trade.
The German economy increased by 0.4% from the previous quarter boosted by a construction sector along with an increase in consumer spending.
That being said, there are still challenges ahead as key markets are evidently slowing down and the looming departure of Britain from the EU.
Nevertheless, as Germany rebounds, economic growth in the 19-nation eurozone rose to 1.6% in the first quarter on an annualized basis, from 0.9% in the final quarter of last year.
Compared to the U.S. however, the EU’s growth pace is slightly off as the latter’s economy grew by 3.2% within that same period.
Source: Smart Trend Team