According to the recently released data, the German economy started forcefully into the year 2005. Real GDP increased with an annual rate of 4.2 percent on a seasonal and calendar adjusted basis. Growth of such a magnitude had last been observed at the start of 2001. The impulses came solely...

The cyclical recovery in Germany has come to a standstill. Following relatively high growth in the first half of 2004, real GDP stagnated in the second half. The main cause was the decline in foreign demand. Real exports only increased slightly, following a double-digit increase in the first...

Last year real GDP in Germany declined for the first time since the recession in the early 1990s. However, starting in autumn, signs appeared that pointed towards a recovery. In the fourth quarter, aggregate production expanded at an annual rate of 0.9 percent, following a slight increase in the...