Germany grew by a much stronger than expected 0.7 percent in the fourth quarter of 2014, with domestic demand lifting Europe’s largest economy out of its mid-year lull to take growth for the whole year to 1.6 percent and raise hopes of a strong 2015.
Quarterly GDP beat not only the consensus forecast for 0.3 percent in a Reuters poll, but also all individual estimates. The overall growth rate for 2014 overshot the Statistics Office’s January estimate of 1.5 percent.
Unadjusted data showed the economy grew by 1.6 percent on the year in the fourth quarter, also far exceeding the consensus forecast in a Reuters poll for 1.0 percent growth. Third-quarter data growth was confirmed at a previously reported 0.1 percent, reports Reuters.
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