Germany’s GDP growth was confirmed at 0.7% q/q in the fourth quarter of 2014, mainly due to consumption fueled by lower oil prices. Construction investment grew strongly, while equipment investment was also up from the previous quarter.
“The pick-up in economic activity in the fourth quarter gives credence to our core scenario of a moderate overall recovery,” Euler Hermes analysts wrote in this week’s report. They expect full-year GDP growth will accelerate to 1.7% in 2015, from 1.6% last year.
Meanwhile, the new government of Greece presented a first list of reforms that were agreed by the creditors, a prerequisite of a four-month extension of the bailout package.
See other information about the European and global economies, in the full report.