Dynamically developing domestic economy ensured the growth of production in the first quarter of this year , as it became known from the official data on Friday , which confirmed the preliminary forecasts.
In the State Bureau of Statistics said that Germany’s GDP grew by 0.8 % compared with the previous quarter and by 2.3% compared with last year , which confirmed the preliminary assessment made last week. This was the highest growth of the country for 3 years.
It was also reported that domestic demand added 1.7 % to its quarterly results , while net trade index decreased by 0.9 %.
Among the other major categories , gross fixed capital formation showed the greatest increase in the amount of 7.4 % for the quarter. Construction investment increased by 3.6 %.
These data , published on Thursday, talk about rebalancing the largest European economy on exports, which has long been the driving force of economic growth in the direction of the domestic economy.
A survey conducted by Markit, showed that domestic demand is playing an increasingly important role in the economic development of Germany , and that companies create more jobs is the seventh consecutive month.
Consumer sentiment also improved on expectations of higher incomes , good indicators of the labor market and low inflation .
On Friday, the IFO Institute for Economic Research in Munich should publish all the expected business sentiment index . Experts interviewed by Dow Jones Newswires, predicting a slight decrease in this indicator on the background of decreasing market expectations.
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