Unexpectedly Apparently the German Economy Is Stronger Than Expected! - Kakiforex | Forex markets for the smart money. Unexpectedly Apparently the German Economy Is Stronger Than Expected! Unexpectedly Apparently the German Economy Is Stronger Than Expected!

February 24, 2021

Unexpectedly Apparently the German Economy Is Stronger Than Expected!

 The German economy performed better than predicted by the end of 2020, recording 0.3% growth supported by stronger investment and exports, offsetting a decline in consumer and government spending.


Capital investment grew 1% in the fourth quarter and exports rose 4.5%, while consumer spending plummeted 3.3% when the coronavirus closure was reintroduced.


Although the economy is growing better than expected by the end of 2020, the prospects are barely rising this year. Economic activity will remain stagnant until vaccination efforts allow sanctions to be relaxed.



So far, the vaccination program in the European Union (EU) is still far behind the United States and the UK.


German Chancellor Angela Merkel has previously warned that the country is in the middle of a third wave and measures to reopen schools and businesses should be carefully considered.


At the beginning of the European session, the euro took advantage of the weakness of the greenback dollar by trading strengthening above the 1.21000 price level.