German economy sees 'record' growth of 2.2% (BBC)

[eppur_se_muova]

The German economy grew by 2.2% in the three months to the end of June, its fastest quarterly growth in more than 20 years, official figures show.

"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.
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more: http://www.bbc.co.uk/news/business-10962017




I thought Europe was slowing the US recovery? :shrug:

[closeupready]

1. That's really incredible growth.

n/t

[lib2DaBone]

2. Because they banned Credit Default Swaps and Derivatives in their Country..

Germany is a High-Tech, High-Wage economy.

Their leaders do not believe in a race-to-the-bottom. (as our leaders do in the U.S.)

[DBoon]

3. they also don't believe in "wild west" unregulated markets

Stability in the finance sector is a prerequisite for growth in manufacturing

[Selatius]

4. German corporations only pay so high because of their co-determination law

http://en.wikipedia.org/wiki/Co-determination#German_Mitbestimmung

It's because of this law that German workers have quite a fair amount of power in the face of management's own power.

[Crazy Dave]

5. Single-payer health care

The German corporations and their shareholders don't have to worry about high employee premiums cutting into profit margins.