Sales also increased by 2.0% in 2014 from the gloomy 0.0% that was seen in 2013. The private sector clearly lead this GDP growth: final domestic sales went up to 1.8% in 2014 from 0.4% the previous year.
Consumer confidence in Germany currently stands at a 13-year high, and with unemployment also falling, the hope will be that the strong sentiment in German households will spur even greater growth across the EU. German frugailty has extended beyond the corridors of the Bundestag in the past number of years, and the latest figures may offer an indication that ordinary Germans are starting to loosen the purse strings in a manner not seen since well before the onset of The Great Recession.
In further positive news from Germany, Monday brought news of growth in the country´s Markit Manufacturing Index, with the final PMI score coming in slightly above forecasts at 51.1