Germany’s economy grew a “solid” 3.1% in real terms last year, the highest figure since 1991, according to data published yesterday by the German Finance Ministry.
The figures, boosted by a 12.1% rise in exports, were well above 1999’s total of 1.6%. The ministry attributed the rise to the “strong global upswing, the increased competitiveness of German companies and the weak trade-weighted value of the euro”.
The forecast for 2001 is also healthy, with a predicted growth of 2.75%, although Johann Hahlen of the German Statistics Office warned that the performance of the euro could affect the figures. “The course of the euro is not without consequences for economic growth,” he said. “If it was to develop in an explosive way, it would affect exports”.
News Source: Handelsblatt (Germany)