At Least the German Economy's Growing
The U.S. economy is still an unholy mess, but someone is doing something right over in Germany, which reported record growth over the three-month period from April through June — the biggest such spike since the once-split nation reunified. The fiscal situation was slightly improved in France and Spain, but Greece? Down 1.5 percent. –KA
“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.