Private consumption is the engine of the German economy

The German economy increased by 1.7 percent last year. It is the highest growth in the past four years – according to the first estimate of the German statistical office that was published on Thursday – origo wrote.

Analysts polled by Reuters expected a modest 1.6 percent GDP growth for last year, which is the same as the result of 2014. In a quarterly comparison, the economy inncreased by 0.25 percent in the final three months of last year. (origo, MTI)