BERLIN: Germany’s economy grew even faster than previously thought in 2014, lifted by a surge in consumer spending and investment, official statistics showed on Tuesday.
Full-year gross domestic product was up 1.6 percent over 2013, confirming preliminary figures released in mid-February. Initially statisticians had said Germany’s GDP growth in 2014 was 1.5 percent higher than one year prior.
A strong uptick in consumer spending and business investments in the fourth quarter were the main driver behind 2014’s strong performance.