Strong exports helped to boost German growth
Posted on 08/13/2010 3:03:06 AM PDT by Cardhu
The German economy grew by 2.2% in the three months to the end of June, its fastest quarterly growth in more than 20 years, official figures show.
"Such quarter-on-quarter growth has never been recorded before in reunified Germany," the national statistics office, Destatis, said.
The main reason for the higher-than-expected growth was strong exports, helped by a weaker euro.
The eurozone economy grew by 1% during the quarter
This compares with growth of 0.2% in the first three months of the year, the area's official statistics agency, Eurostat, said.
The French economy grew by 0.6% in the second quarter, also up from 0.2%, while the Spanish economy grew by 0.2%, compared with 0.1% in the previous three months.
The pace of growth in the Italian economy remained the same, at 0.4%.
The eurozone quarterly GDP figures show that the economic recovery in Europe gained pace between April and June. The UK has also reported higher-than-expected growth of 1.1% for the period.
(Excerpt) Read more at bbc.co.uk ...
“The German economy grew by 2.2% in the three months to the end of June, its fastest quarterly growth in more than 20 years, official figures show.”
For a “socialist hell hole”, Germany seems to be able to do a lot right.
We in Holland follow closely. 2.1%, last quarter. And no, we ain’t a socialist hell hole either.
YOu´d be surprised how many people here think otherwise.
And they’ve all rejected Ayatollah Obama’s economic plans and sent him home with his tail between his legs.
I’ll swun.
Sh*t, when they were a "Nazi hell hole" they were doing pretty well, too.
Doesn't make it right, though.
Morrissey construction in Philly just bought a really awesome milling machine to grind up the asphalt on our street which desperately needed replacing. Super fast, super quiet. Made in Germany. The taxes in our township are sickening. :)
You’d be surprised how many people there don’t know where Holland is and that Spain is in South America.
And a bit of creative accounting do doubt as well ...
Not the Germans, they are very precise and more law abiding than most of Europe.
+2.2% in three months with low public spending stimulus, since budget deficit is close to 3%.
In 2008 the German government cut federal corporate tax rate from 25 to 15%. In American it remains 35%, one of the world´s highest. This is something that left-wing media will never tell you.
We should celebrate Germany as one of the most pro-business countries. Hyperinflation in the 20s is still a strong memory in Germany, so they are very conservative on monetary and budgetary policies. The parliament passed a Constitutional amendment requiring a balanced budget since 2016. They will sacrifice a lot of thing to achieve the goal, like they sacrificed in 2001-2005 (deflation) to have a stronger manufacturing basis today. They are already doing it.
PD: German industry is much more than cars.
He, I’ve heard sometimes about the American’s lack of geographical knowledge. No prob with that here, BTW: if I were living in a country as vast and gorgeous as yours, I wouldn’t be that interested in a map of the world either...
ROTFLMAO.
What was that? Germany was the FIRST to break the three percent pact and, since they are the biggest boy on the block, got away with it (repeatedly!) - they doctor the numbers as they see fit - the EU plays along so as not to bite the hand that feeds it ...
The EU, as a whole is is deep Kimchee and POSITIVE news was despeartely needed (Merkel’s support is crumblimg all around her as well ...) So - time to pump the monkey again!
Netherlands +2.1% in one year, +0.9 in second quarter
Not quiet, I bet, but a lot of fun to operate. Detroit should get one!
I stand corrected, thanks. Misreading on my part, my bad.
I saw one here too, it just removed all the asphalt directly into a trucks via conveyor belts and I suppose recycled the old asphalt back into the new stuff to lay back down somewhere else.
Simply amazing what cutting taxes, regs and spending will do. They are following the Reagan model.
Pray for America
That’s 2.2% in one quarter, not at a 2.2% annualized rate, like they report the American GDP. That’s almost 9% annualized.
Yup! Didn’t want to advertise, though. :)
"Ve haf already conquered inflation....just like we conquered Poland....and France....and Czechoslovakia.....Deutschland Uber Alles....Deutschland Uber Alles........sorry got carried away there."
Remember these are the folks who refused to participate in the debt busting “stimulus” process that Obama tried to force down their throats.
Doesn’t Germany make the world’s largest cranes?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.