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The German economy stepped up its pace of surge to 0.6% during the first quarter of this year, underpinned by sound exports, soaring investments in machinery as well as buildings, not to mention decent spending by the state and households, as data disclosed on Tuesday.
Confirming a preliminary result for surge, the Federal Statistics Office announced that exports added 1.3% on the quarter and imports soared 0.4%, meaning net trade gained 0.4%.
Investment in construction went up 2.3% during the first quarter, which is the strongest soar in three years. It added up to 0.2% points to the overall surge. An ascending population, enhanced job security along with record-low interest rates are driving a property boom in the EU’s number one economy.
Investment in equipment and machinery inched up 1.2%, contributing 0.1% to the GDP surge rate. It’s undoubtedly a sign that German companies are pushing ahead with investments notwithstanding political risks clouding the surge outlook.
In February, German business confidence reached hit its weakest value for almost five years without any signs of a turnaround yet in sight, as follows from a closely-watched business poll published on Friday…
In December, new orders for major American capital goods suddenly slumped in the face of decreasing demand for machinery as well as primary metals, indicating a sustained deceleration in business spending on equipment, which could further impact economic…
American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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