Good News for German Economy as Buoyant Growth Gives a Boost

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German economists were buoyed by the news that the country seems to be comfortably outperforming its other single currency counterparts as growth of 0.8% (or 3.3% for the year) was posted.

The German economy is also predicted to grow by 2% in the year and the same again in 2015 which also goes hand in hand with an average current account surplus of around 7% since peaking at 7.5% in 2013. A thriving labour market has contributed to these figures with manufacturers making the most of the close proximity of Eurozone markets as well as trade links with emerging markets elsewhere. bigstock Flag of Germany waving resized

Despite this there seems to have been a decline in investment, specifically in business, which could produce frailties in the German economy in the future if not addressed and as such many are expecting government action to encourage firms into the country with reforms already encouraging greater competition in some sectors such as professional services. The services sector lacks the same dynamism of the manufacturing sector and is an area in which the country is looking to diversify.

With unemployment standing at a post-unification low of 5.2%, the second lowest of any EU country, the government are keen to keep that figure low with a largely educated and motivated workforce at their disposal.

For more information on incorporating in Germany visit https://www.openaeuropeancompany.com/countries/germany/company-formation/ or email us at info@openaeuropeancompany.com

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